Deposits from households and companies resident in Spain stood at 1,214 trillion euros in March, which is 8% more than a year earlier and 0.78% above the month of February, according to provisional data from the Banco de Spain. This is a strong increase in year-on-year terms that responds to the greater savings derived from the coronavirus pandemic.
Families saved 7.1% more year-on-year in March and companies, 10.9% more
Household deposits grew 7.06% in the year, to 923,000 million euros, and 0.34% compared to February, accumulating seven consecutive months of growth and a new record above 920,000 million . For their part, company deposits rose again in March after two months of setbacks, to stand at 291.2 billion euros. This represents an increase of 1.93% in the month and 10.9% in the year.
According to data from the Bank of Spain, the deposits of all residents in Spain stood at 1,543 billion euros in March, 0.57% more than in February and 8.22% higher than a year earlier.
The amount of deposits of residents in Spain plus those abroad amounted to 1,592 billion euros in March, 0.85% more than in the previous month and 9.18% more than in the year preceding.