MKBUunionbank: Three and six-month deposits are most popular in Bulgaria

MKBUnionbank analysis showed that deposits with maturity of between three and six months are most popular in Bulgaria. The growth rate in BGN was 77 % and in Euro deposits it stood at 53 %. One and three-month deposits also proved attractive. These increased by 45% and 47%, respectively.
Deposits with maturity of between 6 months and 1 year were also preferred in recent months. The latter proves high public confidence in deposits as the most secure and liquid investment at a time of crisis.

Dynamic household behaviour was also observed on the Bulgarian deposit market, showed official statistics. People's interest in deposits with maturity of up to one-month has been falling sharply. In 2009, the amounts deposited decreased by about 25% in both BGN and in Euro, according to the analysis of the financial institution.

Over the past five years, interest in deposits in BGN rose between 46 % and 88%, depending on the maturity. Interest in deposits in Euro showed greater flexibility and variability. Their growth for the same period was between 45% and 160%.
In 2010, deposits are expected to continue to grow at a moderate pace. After recording growth of 12% in the funds attracted from citizens and households in 2009, this year’s forecasts are for a rise of no more than 10%, estimated experts from MKBUnionbank.