Greek private sector bank deposits edge up in Feb. after Jan. drop

Greek private sector bank deposits increased slightly in February, resuming a three-month rise that was paused by a dip in January, central bank data showed on Tuesday.

Business and household deposits rose 0.13 percent last month to 124.92 billion euros from 124.76 billion in January. 

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. 

While they remain dependent on central bank borrowing to plug their funding gaps, banks have significantly reduced their exposure. 

“In February, deposits of the private sector increased by 59 million euros, compared with a decrease of 1.4 billion in the previous month, while the annual growth rate stood at 5.6 percent from 4.9 percent in the previous month,” the Bank of Greece said.

[Reuters]