The annual rate variation (ARV), which excludes impacts not directly caused by transactions, indicated an increase during a month that saw a sequential decline of 944 million euros.
This marked the tenth consecutive month of ARV declines for deposits following the 4.9% rate in July.
The sequential decrease was influenced by drops of 830 million euros in sight liabilities, primarily consisting of demand deposits, and 114 million euros in term deposits.
Historical data from the Bank of Portugal shows that the month of August typically experiences sequential reductions in private deposit values, a trend noted almost annually.
Among companies, the total deposited in resident banks at the end of August was approximately 73,179 million euros, an increase of 2,601 million euros compared to July, resulting in a 9.7% ARV, lower than July’s 10.5%.
