BCR: Romanians can save 17.5 euros / month

The potential average monthly saving for a Romanian citizen stands at 17.5 euros compared with 21 euros in the Czech Republic, 27 euros in Poland, and 36 euros in Slovenia, according to estimates made by the BCR. “The level of savings remains a challenge for the banking market. The population has started to focus on areas with higher yields, and has begun to show a noticeable interest in mutual funds,” stated Nicolae Danila, the BCR’s chief executive at the South-Eastern European Financial Forum. Under the circumstances, Danila anticipates that the assets of open-ended investment funds will reach a maximum of 2 billion euros in 2010, in comparison with the 187 million euros registered in 2006, and the 202 million euros registered for April 2007. Starting at the end of 2006, the population’s deposits have started to increase again, a result of interest rates strengthening. Banks are, however, starting to operate adjustments; even the BCR has reduced its interests for deposits by around half a percentage point, which will further encourage a shift towards alternative instruments.