The West department has collected 22 billion 221 million 650,000 gourdes, or 81% of the total deposits of the Haitian banking system as of September 30, 2018. Of this amount the demand deposits amount to 108 billion 232 million gourdes; savings deposits at 58 billion 876 million, and term deposits 59 billion 112 million gourdes for the Department of the West. At the national level, deposits in the banking system totaled 279 billion 228 million 166,000 gourdes.
The Observatory of the Haitian Financial System (OSFH) of the Growth Group notes in its survey published Wednesday, April 17, 2019 that the Department of the North has recorded a certain increase in the total deposits of the banking system. Indeed, this department totals 19 billion, 842 million 458 000 gourdes, or 7% of the total. Figures that the CEO of the Growth Group attributes to investments made in this department, such as the Caracol Industrial Park. Despite the fact that the municipality of Caracol is part of the Northeast, its industrial park and other spinoffs are still attributed to the Nord department.
The South Department comes on the third step of this ranking with 9 billion 918 million gourdes total deposits, according to the Group Growth, which processes data provided by the Bank of the Republic of Haiti (BRH). The OSFH, in its chart of evolution of the Haitian banking system, indicates that the department of Artibonite has registered total deposits of the order of 9 billion 665 million 308 gourdes, that is about 3.5% of the deposits to the national scale. The South and Artibonite departments are almost at the same level and both account for 7% of the system's deposits.
The figures of four departments (out of 10) – West, North, South and Artibonite – total 95% of the deposits of the Haitian banking system. A concentration of deposits is thus observed in the system. The proportion of bank deposits registered in the Nord department (7%) represents the figures for the Southern and Artibonite departments combined. The differences between departments are indicative of the huge gap between different regions and the country's low financial inclusion.
The Observatory has also made public deposits in the cooperative system. As if to signal to policy makers and other analysts that savings and credit cooperatives are playing an increasingly important role in the Haitian financial system. At the level of cooperatives, the department of Artibonite is at the top, at the national level, with deposits totaling 8 billion 950 million gourdes. It is followed closely by the West with 8 billion 50 million gourdes.
Deposits in cooperatives in the South account for 3 billion 886 million gourdes. Those of the Southeast register deposits of the order of 4 billion gourdes. In the Nord department, these figures totaled 3 billion 831 million gourdes. The Center: 2 billion 345 million; North West: 1 billion 756 million gourdes. Three other departments (Northeast, Grand Anse, Nippes) share the remaining 35 billion 202 million total deposits in the Haitian cooperative system. "Where there is more money, there are more economic activities and more opportunities to save. Hence the correlation between deposits and poverty, "said Kesner Pharel.
Figures from 2018 show that the Haitian financial system is essentially banking, with 88% of banks. Savings and credit cooperatives, microcredit institutions account for 5%. The rest is distributed among the other financial institutions. 87% of banking resources are provided by depositors. The existing banking system, central pillar of the Haitian financial system, is solid, efficient and stable, it is said.