Private sector bank deposits drop in October

Greek private sector bank deposits dropped in October after rising for six months in a row, central bank data showed on Monday.

Business and household bank deposits decreased to 184.84 billion euros at the end of October from €185.51 billion in September, Bank of Greece data showed.

Greek banks’ deposit inflows had been rising since the beginning of 2021 as lockdowns to stem the spread of the Covid-19 pandemic put a dent in consumer spending.

Greece’s economy expanded from April to June at a slower pace than in the first quarter and its annual growth rate decelerated. [Reuters]