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Greek bank deposits rise 2% in Dec

Greek bank deposits rise 2% in Dec

ATHENS: Greek bank deposits rose in December after a two-month drop, data released by the country’s central bank showed on Friday.

Business and household deposits increased by 2.48 billion euros, or 2.05 percent month-on-month to 123.38 billion euros ($134.6 billion), their lowest level since November 2003. They had dropped slightly to 120.9 billion euros in November.

A two-month rise in August and September that followed a 10-month decline was halted in October as deposits dropped.

Greece saw a 42 billion euro deposit outflow from December to July. Capital controls imposed on June 28 helped contain the flight, which sharply increased Greek banks’ dependence on emergency liquidity assistance (ELA) from the Bank of Greece.