Madrid (EFE).- Spanish families withdrew 5,000 million in deposits from banks in February, which, added to the more than 13,000 million that they withdrew in January, raise the figure to over 18,000 million in just two months, predictably to face the rising inflation and looking for products with more profitability.
In this way, before the financial turmoil began due to the fall of Silicon Valley Bank in the United States and the rescue of Credit Suisse, Spanish households continued to reduce their deposits in banks until leaving the balance at 986,200 million, 0.5 % less than in January and 1.8% accumulated in the year.
Even so, in the interannual rate the volume is 2.2% higher than that of February 2022, according to the data updated this Wednesday by the Bank of Spain.
In recent months, the trend for households had been to steadily increase bank deposits, as the economic crisis due to the Covid-19 pandemic worsened and households opted for greater prudence in their spending.
However, August of last year was a turning point, since in that month there was a withdrawal of deposits of around 3,800 million euros; in September and October the balance also fell, although in November and December it grew again to over one trillion euros.
In the case of the deposits of the companies that banks guard, the volume fell in February by 1.8% compared to January, which translates into 5,500 million, up to 294,800 million euros. If the accumulated since the beginning of the year is taken into account, the withdrawal rises to 22,900 million.
In year-on-year comparison, company deposits fell by 3.72%, although in recent months they have evolved both upwards and downwards, due to current liquidity needs.