Household bank accounts twice the state budget

Slovak households have almost 38 billion euros deposited in banks, which is more than double the state budget for this year. Although Slovaks are lagging behind the rest of EU countries, the situation is changing gradually. The annual growth of bank deposits reached 7 percent in January 2019, the highest increase recorded in the past one and a half years. In related news, the Slovak central bank posted a profit of 172.3 million euros last year, an increase of 44.6 million euros year-on-year. This according to the audited financial statement approved by the Bank Board of the central bank. The main source of the bank's profits were bond interest revenues of 152.4 million euros. Interest revenues from securities kept for purposes of monetary policy stood at 93.7 million euros, while interest revenues from securities in the central bank's investment portfolio was 58.7 million euros.