ECONOMY

Greek bank deposits drop in January

greek-bank-deposits-drop-in-january

Greek private sector bank deposits dropped in January after a rise in the previous month, central bank data showed on Wednesday.

Businesses and household deposits declined to 132.93 billion euros from 134.49 billion in December, Bank of Greece data showed.

Greek banks have seen deposit inflows over the space of more than two years after the country clinched a third bailout to stay in the euro zone in July 2015.

Athens exited its latest bailout in August and will be relying on bond markets to refinance its debt.

While the country’s banks still depend on central bank borrowing to plug their funding gaps, they have significantly reduced their exposures.

[Reuters]