Total savings and term deposits in banks in Croatia have recorded a moderate annual increase, with a growth rate of 2.1 percent at the end of April, showing an increase in foreign currency deposits and a decrease in kuna deposits, according to data from the Croatian National Bank.
Total kuna and foreign currency deposits at credit institutions at the end of April this year amounted to 192.3 billion kuna (151.3 billion kuna in foreign currency and 40.9 billion kuna in kuna deposits).
According to data from the latest HNB Bulletin for April, total savings and term deposits decreased by 2.2 billion kuna in that month, with a decrease recorded in both kuna (by 821 million kuna) and foreign currency deposits (by 1.4 billion kuna). Such movements in April, analysts from the central bank note, can largely be explained by the decline in deposits from other financial institutions (particularly insurance companies and pension funds) due to the purchase of government bonds issued in early April.
Businesses and households also reduced deposits in April, particularly foreign currency deposits. Despite this, they emphasize, total savings and term deposits continue to moderately increase on an annual basis, with a growth rate of 2.1 percent at the end of April. Meanwhile, foreign currency deposits increased by 4.5 percent, or 3.5 percent when excluding the impact of the exchange rate, while kuna deposits decreased by 5.8 percent.
