site.btaHousehold Deposits Increase by over BGN 6 Bln in January-October 2024

Household deposits in commercial banks in Bulgaria have increased by BGN 6.1 billion since the beginning of the year and already exceeded BGN 86 billion, indicated data from the Bulgarian National Bank (BNB), presented on Monday.

Household deposits increased by 7.6% compared to the end of 2023 to BGN 86.092 billion by the end of October 2024. For comparison, at the end of last year, the amount of household deposits amounted to BGN 79.9 billion. On a monthly basis, household deposits increased by approximately BGN 951 million or 1.1% compared to the previous month of September.

In the last 12 months, the amount of household deposits recorded an increase of 11.9%. The annual growth rate is strengthening, as in September the increase was 11.4%. For comparison, at the end of October 2023, household deposits reached BGN 76.9 billion.

The current amount of household deposits is equivalent to 43.9% of Bulgaria's gross domestic product.

Deposits of non-financial businesses increased by 7%  on an annual basis to BGN 45.4 billion at the end of October, according to BNB data.

Deposits of financial enterprises recorded an annual increase of 11.2% to BGN 3.5 billion at the end of the tenth month of this year.

The total amount of deposits of the non-governmental sector in Bulgaria reached BGN 135.1 billion by the end of October, which is equivalent to 69% of the country's GDP. The annual growth rate strengthened to 10.2%, compared to a growth rate of 9.7% reported in the previous month.