The research below has provided the data for 2020 as the most current total value of bank deposits globally. The data provided is the total bank deposit liabilities, which by definition, it is the same as the total value of bank deposits. Additionally, as we could not locate any pre-compiled information regarding the total bank deposit liabilities growth rate, we triangulated it using data from 2019 and 2020. Our research also uncovered current bank deposits for the US and provided this information as additional insights.
Key Takeaways
- At the end of 2020, the total bank deposits liabilities were $100 trillion.
- The total bank deposits grew by 16.28% (triangulated) from 2019 to 2020.
- As for Dec 2021, the total deposits at domestic commercial banks in the US were $18 trillion.
Global Bank Deposits
- At the end of 2020, the total bank deposit liabilities were $100 trillion.
- In 2019 the total bank deposits were $86 trillion.
- The total bank deposits grew by $14 trillion from 2019 to 2020, registering a 16.28% growth rate.
Source   -  Policies put in place to accommodate the effects of the COVID-19 pandemic were significant factors contributing to such a high growth rate of total bank deposits.
- According to the European Central Bank, the increase in bank deposits was due to increased household savings. Households saved an average of 6.7% of GDP and 9.5% of disposable income.
- At the end of 2020, the deposits from non-financial companies (NFCs) were $10 trillion, registering a growth rate of 23% from the end of 2019. The NFC consists of “institutional units which are independent legal entities and market producers, and whose principal activity is the production of goods and non-financial services.”
- On the other hand, deposits from the household sector reached $19 trillion at the end of 2020, registering a 16% YoY growth from 2019.
US Bank Deposits
- As for Dec 2021, the total deposits at domestic commercial banks in the US were $18 trillion.
- Total Deposits at U.S. Domestic Commercial Banks
Source   - The total deposits have grown by more than 35% since 2019. The 35% increase in deposits is the largest percentage increase in deposits in the last 30 years in the US.
Research Strategy
To provide the total global value of bank deposits and the annual growth rate, we leveraged the most reputable sources available in the public domain, including reports for BIS and the Federal Reserve. We calculated the total bank deposit liabilities growth rate for 2020 using the following formula:
Total bank deposit liabilities growth rate = (2020 total bank deposit liabilities – 2019 total bank deposit liabilities)/2019 total bank deposit liabilities * 100 = ($100 trillion – $86 trillion)/$86 trillion* 100 = 16.28%
Support provided by:
This research project was made possible by Brale.