São Paulo – Brazilian net savings deposits were down 19.8% in February 2014 from February 2013, to R$ 1.859 billion (US$ 788 million), as per results released this Monday by the Brazilian Central Bank. In February from January, net savings deposits were up 6.6%. This was the second highest net inflow for February ever since records started being kept, in 1995. The all-time high was recorded in February 2013.
In February 2014, savings deposits stood at R$ 121.96 billion (US$ 51.9 billion) and withdrawals reached R$ 120.10 billion (US$ 51.2 billion). Savings’ earnings amounted to R$ 3.45 billion (US$ 1.47 billion).
Total savings funds stood at R$ 608.7 billion (US$ 259.5 billion). It was the second time that the total amount exceeds R$ 600 billion (US$ 255.7 billion). As of January, savings accounts held R$ 602 billion (US$ 256.6 billion), as against R$ 597 million (US$ 254.5 million) in December 2013.
*Translated by Gabriel Pomerancblum
