June 27, 2018 / 10:23 AM / 9 months ago

Greek bank deposits rise in May for fourth month in a row

ATHENS, June 27 (Reuters) - Greek bank deposits rose in May for a fourth consecutive month, increasing by 1.08 billion euros, central bank data showed on Wednesday.

Businesses and household deposits rose to 128.06 billion euros ($149.3 billion) from 126.98 billion in April, the Bank of Greece said.

Greek banks have seen deposit inflows over the space of more than two years after the country clinched a third bailout to stay in the euro zone in July 2015.

While they still rely on central bank borrowing to plug their funding gaps, banks have significantly reduced their exposure.

“In May, deposits by the private sector increased by 919 million euros, compared with an increase of 870 million in the previous month, while the annual growth rate stood at 7.4 percent from 7.2 percent in the previous month,” the Bank of Greece said. ($1 = 0.8578 euros) (Reporting by George Georgiopoulos)

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