Croatias bank deposits up 4% y/y at end-February.

By bne IntelliNews April 3, 2012
Croatia's banks attracted HRK 283bn (EUR 37.4bn) in deposits at end-February, up by 4% on the year, central bank data showed. In January, the deposits increased by an annual 4.7%. Fixed-term deposits rose by 6.8% on the year to HRK 221.6bn in February, slower than the 6.9% y/y rise in the previous month. Savings deposits dropped by 3.2% on the year to HRK 25.8bn, following an annual 0.8% increase in January. On a monthly basis, the attracted deposits inched down by 0.2% in February after increasing 0.8% a month earlier. The combined value of deposits accounted for 78.5% of the projected full-year GDP, according to IntelliNews calculations, which compares with 78% of the GDP a year earlier. IntelliNews comment: We expect that the deposits will continue to increase, though their growth will slow down because of Credo Banka, whose licence was revoked by the central bank (HNB) in November over liquidity shortage. HNB also put on liquidity watch four other small lenders. These actions will have some effect on the banks deposit portfolios even though HNB has said that the banking system is stable and there is no reason for clients of certain banks to consider withdrawing their money and terminating their contracts.

Croatias bank deposits up 4% y/y at end-February.

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