99.5% of individuals have deposits below the €100,000 threshold

Petre Tulin, the director general of the Bank Deposit Guarantee Fund in Romania, has highlighted a significant concentration in bank deposits within the country. The statements were made at a conference dedicated to the banking and financial industry. 

Tulin notes that while the average bank deposit in Romania stands at approximately 10,000 lei, a stark concentration exists where 1% of individual depositors hold about 25% of all covered deposits. This situation is not only specific to Romania, but also to other countries in the region, reports  Agerpres. 

However, he pointed out that deposit coverage is high, with 99.5% of individuals having deposits below the €100,000 threshold. For legal entities, the coverage level is 96.3%.

Petre Tulin added that the Bank Deposit Guarantee Fund conducts an annual survey on savings perception and behavior. Recent results indicate that about 8-9% of the banked population has stable intentions regarding instruments such as debit cards and current accounts. However, intentions for home loans and mortgages are declining, from 18% in 2010 to 14% in 2023. Debit cards are the most widely used banking product, used by around 89% of customers.

This information provides a picture of people's financial behavior in the Romanian banking context and can influence financial institutions' strategies to better respond to customers' needs and savings preferences.