ECONOMY

Bank deposits drop for second month in a row in February

bank-deposits-drop-for-second-month-in-a-row-in-february

Greek private sector bank deposits dropped in February for the second consecutive month, central bank data showed on Thursday.

Businesses and household deposits declined to 132.18 billion euros ($148.76 billion) from 132.93 billion in January, Bank of Greece data showed.

“In February, deposits placed by the private sector decreased by 789 million euros, compared with a decrease of 1.547 billion in the previous month and the annual growth rate stood at 5.5 from 6.2 percent in the previous month,” the Bank of Greece said.

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 is relying on bond markets to refinance its debt. 

[Reuters]