October 26, 2017 / 10:17 AM / 10 months ago

Greek private sector bank deposits flat in September after four-month rise

ATHENS, Oct 26 (Reuters) - Greek private sector bank deposits dropped slightly in September after increasing for four months in a row, central bank data showed on Thursday, with balances remaining at 14-year lows.

Business and household deposits dropped to 122.57 billion euros ($144.77 billion) from 122.61 billion in August, their lowest level since October 2003.

Greek banks have seen small deposit inflows over the space of more than two years after the country clinched a third bailout to stay in the euro zone.

While they remain dependent on central bank borrowing to plug their funding gaps, banks have reduced their exposure.

“In September, deposits of the private sector decreased by 52 million euros, compared with an increase of 1.4 billion in the previous month, while the annual growth rate stood at 4.6 from 4.3 percent in the previous month,” the Bank of Greece said. ($1 = 0.8467 euros) (Reporting by George Georgiopoulos)

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