How much money do Albanians keep in the bank? - Deposits included in broad money return to growth. Around 1.38 trillion lek in May
Deposits included in broad money returned to growth in May, after a decline in the previous two months. According to Central Bank statistics, the amount of deposits included in broad money increased slightly by 0.6% compared to April and 0.2% compared to March. Specifically, at the end of last month, total deposits were 1.38 trillion lek.
In terms of currency, deposits in foreign currency reach higher values than those in lek. So, most of our money in the bank turns out to be in foreign currency. Deposits in lek are calculated at 645 billion lek, 0.7% more than in February.
Meanwhile, foreign currency deposits reached a figure of 739 billion lek, also a value about 0.5% higher than in the previous month. Thus, from this we understand that the greatest impact on the growth of total deposits included in broad money was provided by deposits in lek.
Deposits included in broad money refer to all money that citizens and businesses hold in banks, i.e. money in bank accounts, savings accounts, short-term or long-term deposits, and others.
Meanwhile, the latest data from the Bank of Albania shows that transferable deposits, which refer to the money we hold in our bank accounts, continue to be in higher amounts, followed by demand deposits and other types of deposits.
Transferable deposits in lek reached 374 billion lek in May, while those in foreign currency reached 366 billion lek. On the other hand, demand deposits and other deposits in lek resulted in a slight increase of 0.5%, respectively, both.
Meanwhile, as regards foreign currency deposits included in broad money, the figures show a decline in highly liquid deposits (demand deposits) and other types of deposits.
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