Foreign currency deposits in banks in Croatia are experiencing strong growth, having increased by nearly 9.2 billion kuna during the three summer months – June, July, and August – reaching a total of 115.5 billion kuna by the end of August, according to the latest data from the Croatian National Bank.
On an annual basis, compared to last August, foreign currency deposits increased by 13.8 billion kuna, with an annual growth rate of 13.6 percent. The increase in foreign currency deposits is primarily the result of the growth in household deposits. Analysts note that this growth has been stimulated by developments in the capital market, while the acceleration in recent months is largely due to foreign currency inflows from tourism.
By the end of August this year, household foreign currency deposits amounted to 94.3 billion kuna, representing a share of 81.6 percent of total foreign currency deposits in banks. At the same time, a nominal annual growth rate of 15.4 percent for household foreign currency deposits has been recorded. Compared to August last year, household foreign currency deposits increased by 12.6 billion kuna. During June, July, and August alone, citizens ‘thickened’ their foreign currency accounts by more than 6 billion kuna – 2.4 billion kuna in August, 2.5 billion kuna in July, and just over 1 billion kuna in June. (H)
