Poles saved 8.9% more in 2014

Household deposits rose by 8.9 percent y/y and as of 2014 totaled PLN 48 bln. Polish savings were worth PLN 591 bln at the end of last year. In comparison, the rate increased by 5.6 percent in 2013. Bigger growth in 2014 was caused by “better conditions on the labor market and wages growth,” Adam Antoniak from Pekao bank pointed out. Household credit loans amounted to PLN 30 bln and the value increased by 5.5 percent y/y, Parkiet.com informed. “Last year was a breakthrough in terms of consumer credits,” chief economist at Deutsche Bank Arkadiusz Krześniak said. What is more, Polish firms borrowed8.8 percent more than in 2013. Investment credits noted the biggest growth and rose by 10 percent, Krześlak added. (Parkiet)