Bank Deposits Reach 32,520 Mtnd in First Half of 2025, Reflecting Increased Prudence Among Households and Businesses
As of the end of the first half of 2025, sight deposits with banks reached 32,520 Mtnd, supplemented by 3,392 Mtnd deposited with La Poste. This significant volume has increased by 631 Mtnd over the past six months. These are substantial amounts that have experienced rapid growth. Bank deposits have simply doubled since October 2017, contributing to the explosion of banknotes and coins in circulation observed since then.
This growth reflects increased caution among households and businesses, which seem to be postponing their spending projects. They are seeking to build a precautionary savings buffer to protect themselves against potential economic difficulties, resulting in lower immediate consumption and depriving the economy of a key growth engine.
These liquidities represent an unrewarded treasure, generating no income for households. The estimated loss is at least 1,500 Mtnd, equivalent to lost purchasing power, but also potentially avoided inflationary pressure.
However, this situation largely benefits banks, particularly well-established ones with stable savings. Thanks to these free resources, they can reduce their financing costs. In contrast, remunerated deposits are much more expensive for them, especially since they must already cope with regulatory constraints related to the halving of fixed rates applied to long-term loans under certain conditions. This dynamic plays a crucial role in the speed of transmission of the decrease in the benchmark rate to effectively granted credits. This indicator is key to capturing growth and is worth monitoring.
Note: Mtnd stands for millions of Tunisian dinars.
