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."
