MBA and the Deposit Insurance Fund celebrated the World Savings Day

The Macedonian Banking Association and the Deposit Insurance Fund organized a celebration on the occasion of the World Savings Day, 31st of October.

The President of the Macedonian Banking Association, Maja Stevkova-Sterieva PhD, shared the emotions with the attendees about the educational event that preceded the celebration:

– First I have to share with you an emotion from the previous event, when the kids with open mouth watched the video of the European money quiz. MBA invests in educating young people because they are our future and we all need to contribute to make them stay here by enriching their knowledge and education.

In her address to the audience, the MBA President emphasized that the Macedonian banks and savings houses are very responsible and conscientious in safeguarding their savings. They prudently credit and care for the interests of their clients. People prefer saving as bank deposits as a result of their trust in the banking system.

– Being a banker is also about being a financier and being a custodian and a good host of the assets that were entrusted to you with keeping them,” said Stevkova-Sterieva.

The Minister of Finance, Nina Angelovska PhD, among other things stated:

– In 2019 all deposits are growing rapidly. The trend of increasing the savings of the population has been maintained, as a result of the confidence in the banking system. The domestic currency savings of the population exceeds the savings in foreign currency, which indicates that the citizens’ confidence in the domestic currency is maintained. The tendency to save in the long run was maintained, primarily in denars. Credit lending to companies has increased significantly and non-performing loans have remained low. This is an indication of the great confidence in the Macedonian banking system, stated the Finance Minister, Nina Angelovska, at the World Savings Day celebration.

Emphasizing the importance of saving for the economy, the Governor of the National Bank, Anita Angelovska-Bezoska PhD, in her address focused on the global and European trends of interest rate movements and performances that show the growth of deposits in the Eurozone, emphasizing the situation in our country. As she pointed out, compared to the European market, the savings earnings in the domestic banking sector are still largely competitive, and are generally relatively higher compared to interest rates on savings deposits in other countries in the region.

“Our citizens continue to prefer to save as bank deposits, ahead of other available instruments. As of the end of last year, bank deposits account for about two-thirds of the household’s total financial assets, and this share has increased compared to the period before the global economic crisis. Given that deposits are the main source of financing for our banking activities in our economy, it is important for domestic banks to maintain competitive saving conditions in the coming period. If we take into account the stability of the balance sheets of the domestic banking sector, I think it is also realistic to expect,” – said Angelovska-Bezoska.

The Director of the Deposit Insurance Fund, Mr. Borce Hadziev, emphasized the place and the role of the Fund, stating that:

– Our institution is constantly working on modernizing and moving towards deposit insurance policy principles set out in the EU directive and deposit insurance policy principles around the world. Indemnification in the shortest possible time, more over reducing the time of indemnification from the current twenty days to seven days is an imperative to which our institution strives.

Traditionally, at the event were given plaques to the best officers for 2019. This year, 37 employees from all banks, two savings houses, KIBS Clearing House and the Macedonian Credit Bureau received the awards.


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