BUSINESS

Greek private sector bank deposits rise in June for second month in a row

TAGS: Banking, Finance

Greek private sector bank deposits rose in June for the second month in a row, central bank data showed on Thursday, but they remain at 14-year lows.

Business and household deposits rose to 120.42 billion euros ($141.1 billion) from 119.42 billion in May, their lowest level since May 2003.

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

While they remain dependent on central bank borrowing to plug their funding gaps, banks have reduced their exposure.

"In June, deposits of the private sector increased by 1.09 billion euros compared with an increase of 638 million euros in the previous month and the annual growth rate remained unchanged at 3.4 percent from the previous month," the Bank of Greece said. [Reuters]

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