Skopje, 29 October 2004
Press release of the NBRM
The permanent endeavors of the commercial banks to adhere strictly to the prudential supervisory standards and the strengthening of the banking supervision by the National Bank of the Republic of Macedonia are directed towards increasing the soundness and the security of the banking sector in the Republic of Macedonia. Consequently, the confidence of the economic agents in the banks rises, which is illustrated through the growth in the deposits.
According to the official data, the total deposits of the non-government sector, excluding the demand deposits as transaction deposits, went up by 24.6% on annual basis (September 2004 / September 2003) and reached Denar 63,060 million. An extremely fast increase of 42.8% was registered in the enterprises' deposits. Also, the households' deposits considerably increased by 19.0%.
With respect to the structure of the currency of denomination, the Denar deposits picked up more intensively by 30.5% on annual basis, while the foreign exchange deposits rose by 21.5%. Even though the foreign exchange deposits registered slower relative growth in the observed period, they remained dominant in the total deposits, making up 64.2%.
Regarding the maturity, an increase was registered only in the short-term deposits of 27.7%, conversely to the long-term deposits which dropped by 4.6%. Thus the share of the short-term deposits in the total deposits additionally increased by 2.2 percentage points and reached 92.7%.
The National Bank of the Republic of Macedonia expects the positive development trend of the deposits of the non-government sector to continue in the last quarter of 2004. The total deposits, excluding the demand deposits, are expected to reach 25.4% of the projected GDP at the end of 2004, which is an increase of 4.3 percentage points compared to their share of 21.1% at the end of 2003.
Governor's Office
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