If total deposits are broken down by type of currency, those nominated in pesos closed the month at $ 9.68B, a nominal increase of 5.5%. In interannual terms, the variation of October 2021 amounts to 57% compared to the same month of 2020. Regarding those nominated in dollars, deposits decreased 0.8% compared to the previous month, ending October at US $ 18,925 million; although the year-on-year increase was 11.3%.
If we analyze private deposits in pesos at the end of the month, the increase was 5.7% in October (+396.4 billion), closing the month at $ 7.35B, which represents an evolution of 57.3% in terms year-on-year. The monthly increase of $ 396.4 billion in deposits in national currency was driven by the growth of current accounts by 250.9 billion, it re represents a monthly increase of 15.3% and 57% year-on-year, savings banks that increased by $ 89.4 billion, an increase of 4.8% monthly and 54% year-on-year. Deposits with an early cancellation option increased $ 845 million, an increase of 0.2% monthly and 162% year-on-year.
Within this sector, fixed terms in pesos (traditional and with an early cancellation option) increased 1.6% compared to September (52.1 billion), ending the month at AR $ 3.39B. While, compared to October 2020, the increase was 60.8%. UVA deposits in the private sector decreased 5.8% in the month ($ 6,202 million) ending October at $ 101,594 million.
Regarding private sector dollar deposits, measured at the end of the month, they decreased by US $ 233 million, showing a 1.4% drop, ending at US $ 16,116 million. Time deposits in dollars decreased 2.3% in October (US $ 89 million in the month) while savings accounts in dollars decreased 1.3% (US $ 156 million).
Source From: Ambito
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