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Bank savings deposits amount €3.8 billion in Macedonia

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Deposits of the citizens in the banks and savings banks in the country are safe and secure, Director of the Deposit Insurance Fund of the Republic of Macedonia Borce Hadziev said in the interview with MIA on the occasion of the World Savings Day, which is celebrated on October 31.

The savings deposits for each customer in the amount up to €30,000 in Macedonian denar counter value are insured in the Fund and are safe. And if a bank or savings bank has some risky event, those clients are to be compensated, Hadziev said.

The Fund data show that Macedonian citizens have €3.8 billion savings in the banks and savings banks in the country.

He said that more than half or 50,5% are denar savings deposits, while 49,5% are saving deposits in euros.

According to him, the majority of the savings in denars are probably due to the higher interest rates on these savings deposits and denar exchange rate stability.

He advises the citizens to opt for saving and that it does not matter in which currency. The citizens mostly trust the large banks and the biggest number of deposit accounts are open there. The largest number of savings deposits is up to €30,000.

This amount is guaranteed, but there are deposits above this amount. The largest number of savings deposits is up to €30,000. Citizens know this and they themselves disperse the risk by placing deposits in several banks or extended to family members, Hadziev said.

He pointed out that when Macedonian joins EU this amount will increase to €100,000, as in the countries of the European Union, but also the savings deposits of the legal entities will also be insured.