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Belgians continue to save, especially in the big banks

Belgians remain enthusiastic savers, with savings accounts still being very popular despite low rates. According to data collected from ten Belgian banks by De Tijd, and relayed on Tuesday by L’Echo, total savings deposits rose by 1.22% during the first six months of 2017.

This growth is mainly due to the increase in outstanding savings book deposits in the major banks, which clearly do not convince savers to move to riskier and more remunerative investments. BNP Paribas Fortis, KBC and Belfius reported increases of 1.24%, 1.1% and 0.8%, respectively. Small financial institutions appear to be more successful in convincing their clients to change their habits.

Maria Novak
The Brussels Times