Dutch current accounts 5.5 billion euro in the red

01/07/2002 10:00

In April this year current bank accounts in the Netherlands were a total 5.5 billion euro in the red. At the same time there was a total of 45.3 billion euro in positive balance on current accounts. The total amount of money owing to the bank was one percent lower than in the previous month. In March, too, there was a one percent fall in comparison with the month before. In February current accounts were 5.6 billion euro in the red. This record level was four percent higher than in January 2002.

Being in the red is not unusual

The developments in the first two months of 2002 are not exceptional. In the period January 1994 to February 2001 the monthly increase in the amount owing rose by at least nine percent every month, although part of this increase was caused by inflation.

From March 2001 there was a period with an increase of five percent maximum compared with twelve months previously. Since February 2002 the increase has been around eight percent.

Fewer current accounts in the red

The total amount of money owing on bank accounts is determined to an important extent by the number of current accounts in the red. In April 2.654 million accounts had a negative balance, three percent fewer than in March. In February the number of current accounts in the red was 2.916 million, eighteen percent more than in January.

Amount owing per current account

This pushed down the average amount owing per current account in the red by twelve percent from January to February. In February there were apparently a lot of accounts slightly in the red. The average negative balance of accounts in the red in April this year was 2,069 euro.

Jan Ramaker