ECONOMY

Greek deposits rise in March for a second month in a row

Greek deposits rise in March for a second month in a row

Greek bank deposits rose in March for a second month in a row, central bank data showed on Monday.

Businesses and household deposits rose to 126.02 billion euros in the previous month from 124.92 billion in February, the Bank of Greece said.

Greek banks lost around 90 billion euros or a third of their deposit base after the country plunged into a debt crisis in late 2009, partly due to capital flight on fears of a euro zone exit.

About 17 billion euros returned to the banking system in the months following a mid-June 2012 election, which led to the formation of a new government and eased fears that Athens would leave the single currency.

[Reuters]
 

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