Families increased their time deposits by 6.2 billion in February

MADRID, 31 Mar.

Families increased their time deposits by 6.2 billion in February


The volume of time deposits of families in Spain reached 141.4 billion euros in February, which is 6.2 billion euros more than in January, according to provisional data from the Bank of Spain.

In this way, term savings are at their highest since November 2019. In addition, they increase by 12,802 million euros compared to December and by 74,181 million compared to February 2023.

Deposits and demand accounts fell by 4,267 million euros compared to January, reaching 837,014 million. Compared to December, the decrease is 19,680 million and compared to February 2023, 66,818 million euros.

In total, household deposits stood at 996.3 billion euros in the second month of the year, which represents an increase of 1.9 billion compared to January, but a reduction of 6.9 billion euros compared to December. In year-on-year variation, there is an increase of 7.4 billion euros.

In the case of companies, time deposits increased by around 107 million euros between January and February, going from 60,868 to 60,975 million. Compared to December 2023, they increased by 587 million euros, while compared to February 2023, the increase is 31,517 million euros.

Regarding savings at sight, companies saved some 248,638 million euros in January, 69 million euros more than in January, but 16,000 million euros less than in December

In total, company deposits stood at 311,000 million euros, increasing by almost 1,000 million compared to January and by 16,300 million euros compared to the same month in 2023. Compared to December, on the contrary, they are reduced by 15,000 million

Jointly, bank deposits from households and companies in Spain stood at 1,304 trillion in February, 3,000 million euros more than in January.

The deposits of total residents in Spain stood at 1.58 trillion euros in February, practically the same figure as in January, but 27.7 billion euros less than in December. Compared to February 2023, they increase by 16.3 billion

The amount of deposits from residents in Spain plus those abroad stood at 1,658 billion euros in the second month of the year, falling by 39,000 million euros compared to December. However, they increase by 26.5 billion compared to February 2023.