Bank deposits grow 10.5% in Nicaragua – Forbes Mexico

Bank deposits grow 10.5% in Nicaragua

In relation to the structure of deposits, savings accounts accounted for 40.1%, followed by demand funds 36.4% and long-term accounts 23.5%, according to the information of the institution.

 

Cordobas of Nicaragua

Cordobas of Nicaragua.

Deposits in Nicaragua’s commercial bank increased by 10.5% at the end of November 2016, the Central Bank of Nicaragua (BCN) reported.

As of November 2016, deposits in the national financial system amounted to US $ 4,925.2 million, representing a moderate year-on-year growth of 10.5%, the state-issuing bank said in a report.

By currency, foreign currency deposits, which accounted for 74.9% of the total in November, showed a year-on-year growth of 11.3%, the BCN said.

Likewise, currency deposits grew 8.3%, however, this increase was lower than in November 2015, when they grew 14.2%.

In relation to the structure of deposits, savings accounts accounted for 40.1%, followed by demand funds 36.4% and long-term accounts 23.5%, according to the information of the institution.

“In relation to last year, the structure of deposits has been slightly modified. Demand deposits and savings deposits have increased and term funds have declined slightly, “the central bank said.

Source: Depósitos bancarios crecen 10.5% en Nicaragua – Forbes Mexico

Hey reader, watcha think?