Moderate savings withdrawal

Statistical News Release
Date 28 January 2011

In the last quarter of the previous year, Dutch households withdrew EUR 2.1 billion more in savings deposits than they deposited with banks in the Netherlands. Given the season, this withdrawal is not unusual; in the last three months of 2009, households withdrew a similar amount (EUR 2.4 billion). Since by far most of household savings are deposited with the large banks, the net withdrawal chiefly occurred there.

Households withdrew money mostly from their readily withdrawable deposit accounts, e.g. internet accounts; in the fourth quarter of 2010 to a total of EUR 3.1 billion. In deposit accounts with a pre-agreed maturity, on the other hand, households deposited over EUR 1 billion. As a result of the EUR 1.1 billion in interest credited in the fourth quarter –  interest payments in December are usually relatively high – the net decrease in saving deposits remained confined to approximately EUR 1 billion. End of 2010 Dutch households held EUR 291.1 billion in savings, i.e. nearly EUR 11,000 per account and close on EUR 39,500 per household on average.

For more information, please contact Tobias Oudejans (Tel.  +31 (0)20 524 3100, +31 (0)6 524 96 961) or Herman Lutke Schipholt (+ 31 (0)20 524 2712, + 31 (0)6 524 96 900).

Dutch household savings, net deposit/withdrawal