Greek bank deposits edge up in May after four-month decline
Greek bank deposits rose slightly in May, pausing a four-month decline, data released by the country’s central bank showed on Monday.
Business and household deposits rose by 278 million euros, or 0.2 percent month-on-month to 121.7 billion euros ($134.2 billion), their lowest level since July 2003. They had declined to 121.43 billion euros in April.
Greek banks have seen only a trickle of deposit inflows 10 months after the country clinched a third international bailout to stay in the euro zone. They remain dependent on central bank borrowing to plug their funding gap.
Greece’s banking sector saw a 42 billion euro deposit outflow from December to July last year. Capital controls imposed on June 28 helped contain the flight but sharply increased banks’ dependence on emergency liquidity assistance (ELA) from the Bank of Greece.
You may be interested
Signatures for Line 4 of the Metro – Mitsotakis: The country is turning the page (videos)makis - Jun 22, 2021
The signatures for the biggest construction project that is taking place after Attiki Odos, fell tonight in Galatsi, where in…
Greece: Intelligence Services arrest 3 Turks with fake Interpol IDs trafficking illegal immigrants to EuropePanos - Jun 22, 2021
They were moving around in the center of Athens with Interpol IDs. They spoke five languages, had thousands of euros…
Greece: A single-engine plane crashed in the village of Charia in Ilia – Two deadPanos - Jun 22, 2021
A tragic accident took place in Haria in Ilia on Monday afternoon, when a private plane that had taken off…