Deposits keep coming back

Deposits at Greek banks continued to rise in November, posting a 643.7-million-euro increase from October’s 155.2 billion to reach 155.9 billion euros, according to Bank of Greece data released on Thursday.

November was the fifth consecutive month of growth for deposits. Compared to last June, deposits have risen by a total of 5.3 billion euros.

BoG figures also showed negative credit expansion of 4.6 percent, as the net flow of total funding to the local private sector shrank by 722 million euros. The decline was smaller than that observed in October, when it had amounted to 4.8 percent.

Funding to companies came to minus 343 million euros (from -614 million in November 2011), i.e. minus 5.4 percent, from minus 5.6 percent in October 2012.

Net funding to the self-employed, farmers and personal companies posted a 12-million-euro decline, after a drop of 147 million euros in November 2011.