BUSINESS

Greek bank deposits stuck at 13-year lows

TAGS: Banking

Greek bank deposits rose slightly in November for the second month in a row but remain at levels last seen 13 years ago, keeping banks hooked on central bank funding, data released by the Bank of Greece showed on Thursday.

Business and household deposits rose by 170 million euros, or 0.14 percent month-on-month, to 124.80 billion euros. They had increased by 1.16 billion euros to 124.63 billion in October.

Greek banks have seen only a trickle of deposit inflows in more than a year after the country clinched a third bailout to stay in the eurozone.

They remain dependent on central bank borrowing to plug their funding gap.

[Reuters]

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