Bosnias March deposits growth slows down to 2.1% y/y.

By bne IntelliNews May 6, 2011
Commercial banks operating in Bosnia attracted deposits worth KM 12.55bn (EUR 6.41bn) as at end-March, up by 2.1% y/y, central bank data showed. This represented a 3.1pps deceleration of the expansion rate over the month. We note that the reported annual rise of the savings is already the 14th in a row, while previously the indicator had negative values for 12 consecutive months. It should be mentioned that the moderation of the deposits growth in the month could be explained partially by the high basis in March 2010, when a tranche from the stand-by agreement with the IMF was transferred to the government accounts. The government deposits fell by 15.2% y/y in March 2011, as compared to the 3.9% annual fall a month earlier, even if the actual m/m decline was only 1.9%. Meanwhile, both the corporate and the retail sectors contributed to the deposits growth moderation. The former registered 3.3% y/y drop against 3.4% y/y rise in end-February, while the latter booked 0.5pps deceleration over the month to a 12.3% y/y hike. In monthly terms, the stock of attracted deposits in the banking systems rose by 0.1% in March, compared to a 0.2% m/m growth in the previous month. The deposits in the banking system rose by 0.2% ytd.

Bosnias March deposits growth slows down to 2.1% y/y.

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