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.