ECONOMY

Greek bank deposit edge higher in August, halt 10-month decline

Greek bank deposit edge higher in August, halt 10-month decline

Greek bank deposits rose slightly in August, halting a 10-month decline, data from the country's central bank showed on Friday.

Business and household deposits rose by 305 million euros or 0.25 percent month-on-month to 121.14 billion euros ($135.2 billion. They stood at 120.83 billion euros in July, the data showed, but remain at their lowest level since May 2003.

Capital controls the Greek government imposed on June 28 helped to contain a steady flight of deposits since September last year. The flight sharply increased Greek banks' dependence on emergency liquidity assistance (ELA) from the Bank of Greece.

[Reuters]

Banking Economy Society

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