Czech banks are becoming increasingly attractive to savers, being considered as safe havens, alongside German banks. While bank deposits in some of the troubled European countries have fallen, Germany has seen the opposite trend. In the Czech Republic, both domestic and foreign deposits have been on the increase. Over the last twelve months, in fact, the volume of deposits has risen 8.5 percent, or 237bn to CZK 3.03bn. Foreign deposits have increased by 60 percent to CZK 124bn over the same period, according to the Czech National Bank. Domestic savings have increased by 4 percent. Deposits in German banks were up by 4.4 percent to €2.17bn, while in Spain, Greece and Ireland the total volume dropped by 6.5 percent to €1.2bn.
