Brasília, January 6, 2004 (Agência Brasil - ABr) - The overall balance of funds deposited in savings accounts ended the year at R$ 144.244 billion, according to the Central Bank. This represents a nominal growth of 3.29% in comparison with December, 2002, when the balance stood at R$ 139.642 billion. Despite this increase, the net gain (the difference between deposits and withdrawals) was negative, to the tune of R$ 9.987 billion.

The increase in the nominal balance, moreover, was solely the result of deposits in the two final months of 2003, made possible by the payment of the year-end bonus (13th month's salary), since in every month from January to October, withdrawals exceeded deposits. The lowest balances, below R$ 137 billion, were registered in May and June, as a result of record-breaking withdrawals in March and April.

The savings picture began to improve in November, when there was a net gain of R$ 983.482 million, raising the balance to the same level as at the end of 2002. Last month the balance received the reinforcement of another R$ 2.811 billion, as well as the interest credited for the month, R$ 904.140 million

Of the total, R$ 115.670 billion are in traditional savings accounts, R$ 27.819 billion in rural savings, and R$ 754.532 million in savings accounts linked to housing loans. (DAS)