ATHENS, Aug 27 (Reuters) - The outflow of deposits from Greek banks slowed dramatically in July as a result of capital controls, data from the country’s central bank showed on Thursday.
Business and household deposits dropped by 1.4 billion euros or 1.14 percent month-on-month to 120.83 billion euros ($136.7 billion), their lowest level in 12 years, from 122.23 billion in June, the data showed.
While this was a tenth consecutive monthly drop, capital controls that the Greek government imposed on June 28 ensured the rate of decline slowed. In June, 7.68 billion euros was withdrawn.
Reporting by George Georgiopoulos; editing by John Stonestreet