Greek private sector bank deposits drop in October

ATHENS (Reuters) – Greek private sector bank deposits dropped in October after rising for six months in a row, central bank data showed on Monday.

Business and household bank deposits decreased to 184.84 billion euros ($192.99 billion) at the end of October from 185.51 billion in September, Bank of Greece data showed.

Greek banks’ deposit inflows had been rising since the beginning of 2021 as lockdowns to stem the spread of the COVID-19 pandemic put a dent in consumer spending.

Greece’s economy expanded from April to June at a slower pace than in the first quarter and its annual growth rate decelerated.

($1 = 0.9578 euros)

(Reporting by George Georgiopoulos)