Greek bank deposits dip in November for second month in a row

Greek private sector bank deposits dropped slightly in November for the second consecutive month, decreasing by 90 million euros ($102 million) central bank data showed on Thursday.

Private sector bank deposits had risen for eight straight months before a dip in October.

Businesses and household deposits declined to 131.39 billion euros from 131.48 billion in September, Bank of Greece data showed.

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.

Athens exited its latest bailout in August and will be relying on bond markets to refinance its debt.

While the country’s banks still depend on central bank borrowing to plug their funding gaps, they have significantly reduced their exposures. [Reuters]