Household bank accounts being sapped

Household deposits in Greece fell by 409 million euros in November, compared to an increase of €121 million the previous month, according to data the Bank of Greece released on Thursday.

At the same time, corporate deposits also decreased by €182 million. In total, household and business savings totaled €183.9 billion in November, down from €184.8 billion in October. Of that €183.9 billion, €45.7 billion belongs to businesses and €138.2 billion to household.

However, loans to businesses increased, helping the monthly net flow of total funding turn positive by €1.19 billion, from a negative €639 million in October.