When I see the picture of our banks in my country's, it seems lots of people in the line to withdraw their funds. An analysis of my country says that people keeping funds on their hands instead of keeping into the bank. And it hasn't happened before where a huge amount of funds holding by population. Bank reports saying, clients are just withdrawing their money, deposits are very low by comparing with withdrawal. That's why people encountering lots of questions from the bank regarding withdrawal. Most likely due to the global pandemic, people want to keep funds on their hands.
I don't know if it is happening in your country as well. But seems people losing their faith from centralized organizations like a bank. It would happen due fair of bankruptcy or due to need money on emergency situations. On the other hand, gold and bitcoin movements saying that new investors getting in. Most probably people want to be their own bank.
What's your thought and what's the real situation of your country?
Based on what I have experienced and a little speculation, that in my country the bank has an appeal to people who are in the working years and old. Banks have solutions for those who want to save money and at the same time get money (deposits) and those who want money (loans). At the same time, the government offers a very nice discount up front for those who have accounts at certain banks, making banks the first choice for buying anything related to the government. The centralized organization still has a lot of faith in my country because it is more instant, even though if we understand it will have bad consequences in the future and have a big risk when compared to what they offer.