The increase, calculated through the annual variation rate (tva) — excluding impacts from non-transactional variations — occurred in a month when there was also a month-on-month rise of 946 million euros.
This marks the seventh consecutive month of tva declines for deposits, following the 8.4% rate in October.
The month-on-month increase was driven by a rise of 608 million euros in demand liabilities, almost entirely constituted by demand deposits, and an increase of 338 million euros in time deposits.
The BdP notes that the slowdown trend observed since November contrasts with the recent months’ increase in net subscriptions of savings certificates.
According to the latest BdP data, savings certificates rose to 37.498 million euros in May 2025, reflecting a year-on-year growth of 10.4% and an increase of 475 million euros compared to April.
Among companies, the total deposited in resident banks at the end of May was approximately 70.598 million euros, 444 million euros more than in April, resulting in a 7.1% tva, lower than the 7.6% recorded in April.
