If it was a football game, you could say: checking accounts and deposits still in period they won by landslide Alicante is among the preferences of savers. despite empty profitability offered by most organizations and its effects inflationat the end of last year money deposited in banks from the country multiplied by more than five amount owned by residents investment products. Moreover, while the figure rose in the first case, the figure was cut in the second case as a result of the decline experienced by the markets.
According to recent data, especially Inverco Observatory -the organization that brings together the main managers- by the end of 2022 the assets accumulated by the people of Alicante in mutual funds 6.765 million euro, 3.9% less more than a year ago. caused by a decline declines in both equity markets and fixed-income markets and caused these instruments as a whole to post a negative 9% return. As noted by this organisation’s director of studies and statistics, a figure partially offset by new contributions made by participants, Jose Luis Manrique.
On the contrary, volume recorded in branches banks added last December 35,895 million euro, almost 860 million more 2,44% more than a year ago or likewise. Of course, an increase in savings concentrated in the first half of the year. between the months In September and December, the volume started to decrease, Due to the effects of inflation on domestic economies and the treasury of most companies, it has forced the saved money to use it to face the rise in costs.
In any case, the difference between one quantity and another remains abysmal and Particularly conservative nature of investors from Alicante. Thus, according to the Inverco Observatory’s own calculations, the assets of the funds in the province equivalent to only 18.8% of the deposited amounts. in banks, it is four percentage points less than the national level (22.7%) and far from figures found in other parts of the country. for example Teruel ratio 53% – meaning that the people of Teruel have one euro for every two euros they have in the bank; in the case of guipuzcoa is located 47.6%; or in Riojainside 45.6%
José Luis Manrique explains that apart from the differences in financial education throughout Spain, another reason that explains the Alicante people’s so little fondness for funds. tendency to invest more in brickor this leaves less money for other types of investments.
In any case, Manrique is in the first months of the year. to reverse this situationbecause aggregated data at the national level point to a certain transfer from deposits to funds, which increased by about 6.5% through May.
A transfer supported by i’m tired of so many protectorsbefore resistance of major Spanish banks to pay back deposits, As the head of Financial Assets and specialist at Banqmi, a specialized subsidiary of iAhorro, stated, despite the increase in interest rates, due to the excess liquidity still accumulating, tono garcia.
In this context, it is sufficient to remember that, according to the latest Eurostat data, the average interest offered by Deposit in Spain for a year was barely in 1.16% ahead in March 2.16% of the eurozone as a whole; 2.68% paid in France; or 3.14% paid by Estonian organizations, much more in line with the development of Euribor.
What has changed is the profile of contracted funds. As such, many investors take advantage of the returns the company offers. public debt and corporate bonds to enter fixed income funds, last year already represented 29.8% of the state’s total, which is six points more than the previous year. Guaranteed loans also increased, representing 12.7% compared to 9% in 2021, and mixed and variable income loans fell.
Euribor to close May at 3.86%
While banks are hesitant to pay more on deposits, Euribor, the main indicator by which variable rate housing loans are managed, continues to rise. Of course, at a slower pace than in previous months. Thus, out of surprise, it will close this month at 3.86%, slightly above the 3.75% recorded in April. Most experts are already pointing out that Euribor will surpass 4% this summer as further increases in the official price of the currency are expected from the ECB, among other reasons.