Insured deposits increased to 31.3 billion euros
The Deposit Insurance Agency announced that at the end of September, insured funds in the accounts of citizens, entrepreneurs, as well as micro, small and medium-sized legal entities in banks in Serbia amounted to 31.3 billion euros, which is almost 3.6 billion euros more than in the same period in 2023.
Two thirds of all insured deposits are deposits of natural persons, that is citizens, with around 13.5 million deposit lots, it was stated in the announcement of the Agency on the occasion of the World Savings Week.
The Deposit Insurance Agency reminds that the trend of deposit growth in banks has been continuous since 2008.
“From 7.3 billion euros, which they amounted to at the end of 2008, the total insured deposits in banks have increased more than four times to date,” the announcement stated.
The average growth rate of insured deposits in the past 16 years was about 10 percent per year.
99 percent of citizens are fully covered by the deposit insurance system, since the total amount they save in one bank does not exceed 50,000 euros, the Agency announced.
“Although citizens mainly keep money in euros in bank savings accounts, for many years now, due to higher interest rates on dinars compared to foreign currency savings, favorable tax treatment (income from interest on dinars is not taxed) and preserved relative stability of the dinar exchange rate against the euro, there is a significant increase in household dinar deposits, i.e. a faster growth of dinar savings compared to savings in euros,” the announcement stated.
On the occasion of World Savings Week, the Deposit Insurance Agency reminds that the money that citizens, entrepreneurs, as well as micro, small and medium-sized legal entities keep in banks is protected by law up to the amount of 50,000 euros.
This means that the Deposit Insurance Agency would start paying insured deposits up to a maximum of EUR 50,000 to depositors of a bank that would be in bankruptcy proceedings within seven working days.
The money of insured depositors is protected in all accounts, regardless of the type and currency, and all banks in Serbia are included in the deposit insurance system, and this type of protection of funds for bank clients is completely free.
Source: Beta
Photo: Pixabay
Source: bizlife.rs
