The majority of depositors remain reluctant to use excess liquidity to achieve a high yield, despite the opportunities presented in the current environment of rising interest rates in the Eurozone.

Deposits in Greek banks recorded a € 600 million decline in November, with increased tax liabilities peaking in the third quarter of the year.

Improving economic climate and business outlook could lead to a return of deposits up to 25 billion euros in the domestic banking system in the next 18 to 24 months, Eurobank's chairman Nikolaos Karamouzis said.