Banks relieved at net inflows

The second day after the election saw banks record a net inflow of cash on Tuesday, just as on Monday, finally returning some sense of normality to the local credit system.

Bank officials say that besides the small deposit inflows, estimated at between 100 and 200 million euros, what is more important is that the outpouring of cash has stopped, after amounting to several hundred million euros on a daily basis.

Lenders reported that customers were particularly keen to learn about the interest rates offered and the various alternative deposit products available, which is the first sign of a return of deposits. These are likely people with increased liquidity, who have been holding cash at home or elsewhere and are intending to return it to the banking system once the uncertainty ends.

A number of bank officials have told Kathimerini that some people have been keeping amounts of 500,000 euros or more at home or in safe deposit boxes and have lost a great deal in interest over fears of a Greek exit from the eurozone.

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