According to the CNB’s current banking statistics, September brought a further increase in koruna deposits and foreign currency deposits, both in relation to non-financial corporations (by CZK 17.8 billion to CZK 1.189 trillion) and households (by CZK 20.7 billion to CZK 2.733 trillion). ) and sole proprietors (by 2.5 billion to 161 billion crowns). The effort to accumulate prompt financial reserves continues to manifest itself, said the association’s analyst Miroslav Zámečník.
According to him, in the Czech economy, banks have traditionally mediated the savings of the population in the form of bank loans to business entities. “The excess of household deposits (excluding self-employed persons) over loans remains high and exceeded one trillion crowns in September, despite the fact that, thanks to the surprisingly high interest in mortgages, the volume of banking system loans to households is also record-breaking,” he added.
At the same time, self-employed persons have also been showing a positive net balance for a long time, as they managed to increase it by more than thirteen billion crowns from the last pre-Lent month to the end of September.
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However, the differences between and within individual fields are significantly deepening, says the analyst
However, according to Zámečník, the interpretation of the data from the national economic point of view depends on the point of view. “If you want to wear pink glasses, you will see both the high ability to create savings for companies and households and the continuing willingness of banks to finance solvent clients, as not only deposits in crowns and foreign currency are growing, but also loans. On the other hand, the growing excess of deposits over loans indicates continued uncertainty and the postponement of investment decisions and willingness to spend, ”he explained.
According to him, it would be clear in a finer distinction, which in the coming months will certainly confirm that the differences between the individual fields and within them significantly deepen the amount of money they have in their bank accounts. Affected companies, trades and households will start to run out of funds, and the government will not be able to cover everything with various forms of compensatory measures and support, Zámečník remarked.
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