ECONOMY

Greek banks see rise in value of household deposits

greek-banks-see-rise-in-value-of-household-deposits

Deposits in Greek banks rose in January while the net flow of credit to the private sector was negative in the first month of 2021, the Bank of Greece said on Thursday.

In a monthly report the central bank said that deposits placed by households and private non-profit institutions increased by 655 million euros, compared with an increase of €3.433 billion in the previous month, with the annual growth rate increasing to 10.1% from 8.6% in the previous month.

In January 2021, deposits placed by the private sector decreased by €1.211 billion, compared with an increase of €4.651 billion in the previous month; the annual growth rate increased to 15.2% from 14.4% in the previous month.

Corporate deposits decreased by €1.866 billion in January, compared with an increase of €1.218 billion in the previous month.