Household savings reach PLN 1.38 trillion – Analizy Online

The value of household savings increased to PLN 1.38 trillion in Q4, 2017, according to a report prepared by Analizy Online, which is PLN 27 billion q/q increase and PLN 107 billion y/y growth. In Q4, assets accumulated on deposits in banks and credit unions increased the most (by PLN 19 billion). In total, Polish households have already accumulated over PLN 753 billion on current and term deposits. “The lower popularity of deposits is the effect of low-interest rates and rising inflation in Poland, and as a result, the real rate of return on these instruments is more and more often negative,” the report explained. “The last quarter was the culmination of a successful year in terms of assets accumulated in Treasury bonds, which increased by more than PLN 1 billion q/q (6.9 percent increase) and amounted to over PLN 16 billion at the end of December. Two-year bonds were invariably very popular with a fixed interest rate of 2.1 percent, it is worth noting that the Ministry of Finance started offering 3-month bonds with a fixed interest rate of 1.5 percent starting from October, although it is lower than inflation, they were very popular with Q4 sales exceeding PLN 0.65 billion,” Analizy said.