Deposits at Greek banks rise in August

Deposits at Greek banks rise in August

Greek bank deposits rose in August after a drop in the previous month but remain at levels last seen 13 years ago, keeping banks hooked on central bank funding, data released by the country’s central bank showed on Tuesday.

Business and household deposits rose by 1.32 billion euros, or 1.07 percent month-on-month, to 123.89 billion euros, their lowest level since November 2003.

They had dropped by 160 million euros to 122.58 billion in July.

Greek banks have seen only a trickle of deposit inflows a year after the country clinched a third international bailout to stay in the eurozone.

They remain dependent on central bank borrowing to plug their funding gap.


Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.