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Bank deposits at a record low since 2001

Bank deposits are at their lowest levels since 2001, according to the Bank of Greece (BoG).

The figures released by the BoG revealed that deposit outflows of Greek depositors amounted to 1.567 billion euros in January.

The amount of deposits in December of 2016 were up by 2.972 billion euros. In more detail, the general government deposits had a drop of 34 million euros, compared to 175 million rise in December of 2016, with the annual rate of change coming to 16.3% from 12.2% in the previous month.

The private sector also recorded a fall, reaching 3.1% from 3.4% in December of 2016. The aggregate drop of business deposits was down by 562 million, a fall from 11.8% in December of 2016 to 7.5% in January. Private household deposits, as well as private non-profit institutions fell by 972 billion euros in January, compared to a 2.176 million rise in December 2016.