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Greek banks: Business and households deposits rise in August

Greek private sector bank deposits rose in August for the sixth successive month, the Bank of Greece said in a press release on Thursday. Businesses and household deposits increased to 139.72 billion euros  from 138.64 billion in June.

In August 2019, deposits placed by the general government decreased by €418 million, compared with a decrease of €3,062 million in the previous month, while the annual growth rate stood at -21.4% from -14.7% in the previous month.

ΙΙ.2       Deposits placed by the private sector

In August 2019, deposits placed by the private sector increased by €1,021 million, compared with an increase of €1,604 million in the previous month and the annual growth rate stood at 6.2% from 6.5% in the previous month.

ΙΙ.2.1 Corporate deposits

In August 2019, corporate deposits decreased by €25 million, compared with an increase of €1,043 million in the previous month and the annual growth rate stood at 5.9% from 8.4% in the previous month.

In particular, deposits from non-financial corporations increased by €168 million, against an increase of €335 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries decreased by €193 million, compared with an increase of €708 million in the previous month.

ΙΙ.2.2 Deposits placed by households and private non-profit institutions

In August 2019, deposits placed by households and private non-profit institutions increased by €1,046 million, compared with an increase of €561 million in the previous month; the annual growth rate stood at 6.3% from 6.1% in the previous month, the Bank of Greece said in its report.

Over the crisis years, Greek banks saw an incredible decrease of deposits and citizens had mass withdrawals due to economic uncertainty. The capital controls imposed in summer 2015 halted the trend.

Deposits started to return to the banks since last year with the effect that capital controls were completely lifted beginning of this month.

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