Deposits in Bulgaria Banks Hit New Record High

Banks in Bulgaria have been recording consistent and significant growth in deposits throughout 2011, a trend which peaked in the last quarter of the year, official data shows.
 
The deposits of citizens in local banks increased by BGN 768 M only in December last year, according to data of the central bank BNB.
 
Thus the total amount of deposits of citizens hit a record-high BGN 31.9 B at the end of 2011, marking an annual increase by 21% over 2010.
 
There has been recently a noticeable trend among Greek and Romanian citizens and businesses, who prefer to open deposit accounts in Bulgarian banks, bankers have commented.
The Bulgarian banks stability and their more attractive interest rate policy are the main reasons for the interest of Greek and Romanian citizens and companies, according to the bankers.