Total bank deposits in Croatia at the end of February totalled HRK 253.9 billion, 0.7% less than in the previous month, but 3.6% more than in February 2015, show the latest data from the Croatian National Bank (HNB).

Analysts of Raiffeisenbank Austria (RBA) have said that total deposits, made up of deposit money, time deposits and kuna and foreign currency savings deposits, were down in February for the third consecutive month, dropping by HRK 1.8 billion or 0.7%, while compared to February 2015 they rose by HRK 8.8 billion.

Total savings and time deposits dropped on the month by HRK 1.8 billion to HRK 205.4 billion, RBA analysts said. 

Compared to February 2015, total savings and time deposits were HRK 3.3 billion or 1.6% higher, and RBA analysts said the annual growth of both foreign currency and kuna deposits had contributed to their increase.

Household deposits, which account for almost 82% of all deposits, were down by 1.15 billion (0.7%) on the month, totalling HRK 167.7 billion. Compared to February 2015, they dropped by HRK 632 million or 0.4%.

Corporate deposits, totalling HRK 30.3 billion, were 2.6% or HRK 816 million down on the month, while on the year they were HRK 5.5 billion or 22.1% higher. This, RBA analysts said, was partly owing to the sale of the TDR tobacco company, concluded at the end of September 2015.

"The annual growth of household and corporate deposits could this year again contribute to expected positive growth rates of total deposits," the analysts said.

(EUR 1 = HRK 7.50)

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