Nicaragua: Is the Trend in Bank Deposits Changing?

Since April 2018 the total deposits of the National Banking System have been decreasing every month, but in August and September the trend seems to have reversed, as in both months there were increases.

Tuesday, October 22, 2019

According to data from the Superintendence of Banks and Other Financial Institutions (Siboif), between July and August a $39 million growth in bank deposits was reported.

You may be interested in "Nicaragua: Bank Credit Still Declining"

Between August and September, a new increase was reported, in this case it was $41 million, according to official figures.

Laprensa.com.ni reviews that "... Although the outflow of money has slowed this year and the last two months have already seen a positive behavior over last year, the Nicaraguan Foundation for Economic and Social Development (Funides) believes that the outlook for the financial system remains uncertain and that it is still too early to consider that there will be no more leakage of deposits."

The article adds that "... the increase in interest rates to depositors would be behind the upturn and containment of the leak, estimate several analysts."

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