An expanding deposit base in Greek banks shows increased confidence in the Greek economy and the banking system, bank officials said on Monday, according to ANA.
In the period from May to December 2017, private sector deposits in Greek banks totaled 7.4 billion euros, with 4.8 billion coming from Greek households, of which 50 pct was kept outside the banking system formerly.
Another characteristic of this improving climate is a rise of “new money”, as new deposits not subject to capital controls. The new money is estimated at around 30 billion euros, from a total of 126 billion euros in private sector deposits and comes mainly from households, investment products, money from abroad and largely to deposits by commercial enterprises.
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