ECONOMY

Bank deposits post rebound during March

bank-deposits-post-rebound-during-march

Bank deposits reversed the negative course of the year’s first couple of months to post an increase in March, according to figures issued by the Bank of Greece.

Deposits by households and corporations rose last month to 133.44 billion euros, up from 132.18 billion euros in February. This constitutes an increase of 1.282 billion euros for the private sector on a monthly basis, against a decline by 789 million euros in February. The annual rate of growth increased to 5.6 percent, from 5.5 percent in February.

That increase is mostly thanks to the rise in deposits of corporations by 762 million euros, after a monthly decline by 1.07 billion euros registered in February. That has taken the annual growth rate from 3.7 percent to 6.5 percent.

In contrast, the annual rate of private sector financing has remained at a negative rate of 0.6 percent, unchanged from February. The net monthly flow of total funding to the private sector was positive, amounting to 221 million euros, compared with a positive net flow of 456 million euros in the previous month, the central bank’s figures showed.