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Oikonomia, Economy, Ellada, Euro, Evro
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Greek bank deposits up 1.8 bln euros in July amidst rising confidence

The trend of continuous increases in deposits reflects growing confidence in the Greek financial system, however, doubts remain about the course of the pandemic and the implementation of new restrictive measures.

Bank deposits continued to rise in July for businesses and households, despite the opening of the economic activity from the lockdown and the fact that this month is a holiday month with therefore increased costs. As a result, the deposits of households and private non-profit institutions hit 131.3 billion euros, with most of the money placed in savings accounts, ie immediately accessible at any time.

The trend of continuous increases in deposits reflects growing confidence in the Greek financial system, however, doubts remain about the course of the pandemic and the implementation of new restrictive measures, prompting some to create cash reserves for tougher days ahead. According to the Bank of Greece announcement, the monthly net flow of total deposits was positive by 1.1 billion euros, compared to a positive net flow of 2.378 billion euros in June 2021.

  • Deposits placed by the general government

In July 2021, deposits placed by the general government decreased by 730 million euros, compared with an increase of 759 million euros in the previous month; the annual growth rate stood at -19.2% compared with -14.2% in the previous month.

  • Deposits placed by the private sector

In July 2021, deposits placed by the private sector increased by 1.8 billion euros, compared with an increase of 1.6 billion euros in the previous month; the annual growth rate decreased to 13.2% from 14.5% in the previous month.

  • Corporate deposits

In July 2021, corporate deposits increased by 1.05 billion euros, compared with an increase of 1.07 billion euros in the previous month; the annual growth rate increased to 24.8% from 19.3% in the previous month. In particular, deposits from NFCs increased by 560 million euros, against an increase of 1.2 billion euros in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by 493 million euros, compared with a decrease of 201 million euros in the previous month.

  • Deposits placed by households and private non-profit institutions

In July 2021, deposits placed by households and private non-profit institutions increased by 788 million euros, compared with an increase of 542 million euros in the previous month; the annual growth rate stood at 9.8% from 9.7% in the previous month.

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