Greek bank deposits drop for a second month in February

Greek bank deposits dropped in February for a second month in a row and private sector lending continued to shrink, central bank data showed on Thursday, with no sign of the credit expansion needed to spur economic recovery this year.

Deposits of businesses and households dropped to 160.5 billion euros from 161 billion in January, to their lowest level since October, the Bank of Greece said, mainly due to a decrease in business deposits.