BANKING

Bank deposits hit a decade-high in December

Bank deposits hit a decade-high in December

Private sector deposits soared again last month, with some 4.3 billion euros added to balances that added up to €180 billion, a level unseen since September 2011.

In total, since the start of the pandemic in March 2020, deposits have increased a remarkable €35 billion.

The increase recorded in December 2021 is attributed both to the rise in household deposits, which grew €2.7 billion in just one month to exceed €135.1 billion, and the advance of corporate liquidity, which brought company bank balances to over €44.8 billion.

Bank deposits posted an annual expansion of 10% in comparison with the end of 2020.