We have a record!

Poles ? despite the pandemic ? get richer. As reported by Business Insider ? the total value of deposits has already exceeded PLN 1 trillion.

At the end of December 2020, only Polish households held PLN 786.8 billion in bank deposits on demand. In addition, on deposits up to two years PLN 190.2 billion, and for even longer pln 25.5 billion. This means that, in total, the value of all our money in banks has exceeded a trillion - according to data on the money supply published by NBP. This is the first time in modern history that Polish value of deposits has exceeded this magical value. Interestingly, over the whole of 2020, a total of PLN 114.7 billion was received from bank deposits. Some savers invest their surpluses in government bonds, the interest rate of which is slightly higher than the average of bank deposits (about 2% per annum from government bonds vs. about 0.8% per annum from a bank deposit). Some of this money has also gone to the property market, and this may explain the phenomenon of persistently high house prices.



Foto: Robert Stachnik/REPORTER / East News za Business Insider ?