Featured statistic: EUR 575 billion

News
Date 26 June 2008

Households and companies in the euro area are currently holding about EUR 575 billion in deposits with Dutch banks. Savings from those sectors held with all euro area banks run to almost tenfold that amount (EUR 5,500 billion). Deposits with German banks, at EUR 1,800 billion, are the highest within the monetary union, followed by those held with French and Spanish banks. The Dutch banking industry just failed to make it to the stand.

Chart Euro area private sector’s savings held with banks (savings / GDP)

Chart Savings of the euro area private sector held with bank (EUR billions)

                

If the savings held in each Member State are compared to total domestic production (GDP), rankings are radically different: highest deposits are suddenly held with banks in the Benelux. In Belgium and the Netherlands, deposits almost match GDP, whereas in Luxembourg they amount to almost four times domestic production. Probably, banks in Luxembourg – partly as a result of the banking secrecy observed there – receive far more savings from households and companies in other euro area countries. In the Netherlands and Belgium savings deposits are mainly held by residents.