Deposits at banks steadily accrued year by year reaching 10% annually despite a continuous fall in the savings’ interest rate, following cuts in the BI Rate. This could be considered as a strong indication that public confidence in the banking industry has recovered and even grown.
Alterations to the Bank Deposit Guarantee Scheme, implemented in the latter part of last year, were performed smoothly and without triggering turbulence that could threaten overall financial system stability.