Household deposits surge by record €14.2bn in 2020 fuelling hopes for recovery this year

Restrictions imposed to curtail the spread of Covid-19 are thought to have contributed to households amassing almost €125bn in savings this year, up 12.8% on the previous year.
Household deposits increased by a record €14.2bn last year, fuelling hopes there is a significant amount of money that could be unleashed to help the recovery from the Covid-19 crisis.
The new figures from the Central Bank also showed that in December alone, household deposits increased by €950m, more than four times the €212m in deposits in December 2019.