BUSINESS

Greek bank deposits rise in April for a third month in a row

TAGS: Finance

Greek bank deposits rose in April for a third month in a row, central bank data showed on Tuesday.

Businesses and household deposits rose to 126.98 billion euros ($146.89 billion) from 126.02 billion in March, the Bank of Greece said.

Greek banks have seen deposit inflows over the space of more than two years after the country clinched a third bailout to stay in the euro zone in July 2015.

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

“In April, deposits by the private sector increased by 870 million euros, compared with an increase of 1,143 billion in the previous month, while the annual growth rate stood at 7.2 percent from 6.3 percent in the previous month,” the Bank of Greece said. [Reuters]

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