Deposits drop by 4.5 bln in Jan, reversing previous month's marked increase

EconomyMacroeconomy Tags: Deposits, ELSTAT

The net private sector deposit movement in the Greek banking system dropped by 4.5 billion euros in January, reversing December’s impressive rise, when it jumped by 5 billion euros, based on the latest Bank of Greece (BoG) figures released on Tuesday.

December is traditionally a month of solid deposit growth thanks to Christmas bonus payments, the festive season and treasury and cash management by companies as the fiscal year ends.

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