Savings 
Romanians have saved up more than five billion Euros, since the beginning of 2009
Time deposit accounts of the population rose in the last nine months by 20.9 billion Lei, which means approximately 5 billion Euros. The greatest rise was recorded among citizens in the capital city, Bucharest, who cumulated, during this time, deposits of 7.7 billion Lei. Analysts consider this was possible because of the salary and pension increase in 2008 and the rate of interest offered by financial institutions. Time deposits in banks advanced due to the increase of savings in the national coin by 12.8 billion Lei and in the foreign currency by 8.1 billion Lei. Compared to last year, the growth rate of deposits in the national currency rose by 46.43%, overtaking foreign currency deposits, of 41.8%. Chief Economist of BCR bank Romania, Lucian Anghel, explains that this is due to last year’s increase in pensions and salaries and that the rate of growth will slowly decrease over the next period. He also noted that this is the first time in many years that... citeste mai mult
Banks have managed to guess the code of Romanians
The repeated increase for interests to deposits seems to have touched at least partial the goal. Romanians begin to deposit their savings in bank lured by the profitability of the placement. Moreover, the Romanian leu is preferred when it comes about deposits, however it isn’t chosen when it comes about loans. In other words, we save money in lei, but we take loans in foreign currency. At the end of June, the deposits in banks, in lei and currency, totalized 21,4 billion euro while the value of the credits was amounted to 23,8 billion euro. From the beginning of the year, most of the commercial banks have announced successively increases for interests to deposits, especially for those in lei, and not once, but almost weekly, so now they’ve reached in case of some promotions, to be between 15-17% for lei. The experts “blame” BNR, explaining that the decisions taken during last months “forced” the banks to seriously think to the money of the... citeste mai mult
