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Παρασκευή, 28 Σεπτεμβρίου 2018 14:08

Bank deposits in Greece rise in Aug., for seventh straight month

Bank deposits in Greece posted an increase in August 2018, according to the Bank of Greece (BoG) this week, a development considered as extremely encouraging for credit institutions' liquidity and a justification of the recently announced easing of remaining capital controls in the country.

Bank deposits in Greece posted an increase in August 2018, according to the Bank of Greece (BoG) this week, a development considered as extremely encouraging for credit institutions' liquidity and a justification of the recently announced easing of remaining capital controls in the country.

In a press release, the BoG noted that:

"In August 2018, deposits placed by the private sector increased by €1,297 million, compared with an increase of €841 million in the previous month, while the annual growth rate stood at 7.3% from 7.4% in the previous month."

In terms of corporate deposits, the BoG stated:

"In August 2018, corporate deposits increased by €533 million, compared with an increase of €301 million in the previous month, while the annual growth rate stood at 10.2% from 11.4% in the previous month. In particular, deposits from non-financial corporations increased by €462 million, against a decrease of €54 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €71 million, compared with an increase of €354 million in the previous month.

As far as deposits placed by households and private non-profit institutions, the BoG reported:

"In August 2018, deposits placed by households and private non-profit institutions increased by €764 million, compared with an increase of €540 million in the previous month and the annual growth rate stood at 6.6%, unchanged from the previous month."