ECONOMY

Greek deposits shrink by 0.15 pct in November

Greek deposits shrink by 0.15 pct in November

Greek bank deposits fell slightly in November for the second month in a row, data released by the country’s central bank showed on Wednesday.

Business and household deposits dropped by 180 million euros, or 0.15 percent, month-on-month to 120.9 billion euros, their lowest level since May 2003.

They had dropped slightly to 121.08 billion euros in October after a two-month rise that followed a 10-month decline.

Greece saw a 42-billion-euro deposit outflow from December to July.

Capital controls the country imposed on June 28 helped contained the flight, which sharply increased Greek banks’ dependence on emergency liquidity assistance (ELA) from the Bank of Greece.

[Reuters]

Banking Finance

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