Fixed term deposits grow 34% in March

Private sectors’ fixed term deposits grew 34 percent in March compared to the volume reported during the same period last year and it has reached its highest point in the last seven years, according to the Central Bank.

The bank’s deposits totalled 92 billion pesos (22.1 billion dollars) by the end of the third month of the year, with an increase of wholesalers and retailers investing.

“In a short term analysis, the growth of fixed term deposits will be similar to the performance we had in the best recent years, before the global economic crisis,” Central Bank authorities assured.

The private and public deposits reached 331 billion pesos (80 billion dollars), according to the Central Bank’s public statistics.