Greek de­posits climb to 161 bil­lion eu­ros

Kathimerini English - - Front Page -

Greek bank de­posits rose slightly in Novem­ber af­ter a five-month de­cline but pri­vate sec­tor credit kept shrink­ing, cen­tral bank data showed yes­ter­day, as deep re­ces­sion saps de­mand for loans. Data showed busi­nesses and house­hold de­posits rose to 161.04 bil­lion eu­ros from 160.38 bil­lion eu­ros in Oc­to­ber, the rise mainly the re­sult of in­ter­bank de­posits. Bank lend­ing to the pri­vate sec­tor shrank 3.8 per­cent year-on-year, the pace of con­trac­tion slow­ing slightly from 3.9 per­cent a month ear­lier. Loans to busi­nesses, a nar­rower mea­sure in the pri­vate

The Pur­chas­ing Man­agers In­dex (PMI) in Greek man­u­fac­tur­ing reached the high­est point in the last four years in De­cem­ber, as com­pil­ing com­pany Markit said the read­ing for last month was 49.6 points, against 49.2 in Novem­ber, show­ing the in­dex is about to rise above the 50-point level of zero growth in the sec­tor. sec­tor over­all fig­ures, de­clined 4.7 per­cent af­ter a 4.8 per­cent drop in Oc­to­ber, the Bank of Greece said. Lend­ing to house­holds and pri­vate non­profit in­sti­tu­tions shrank 3.5 per­cent, un­changed from the pre­vi­ous month.

Debt re­pay­ment.

T-bills.

State debtors may ar­range their obli­ga­tions through new pay­ment plans re­quir­ing monthly in­stall­ments from as lit­tle as 15 eu­ros, pro­vided they pay their debts within a 12- to 24month pe­riod and pay their first in­stall­ments within three days of start­ing the plan, ac­cord­ing to a de­ci­sion is­sued yes­ter­day by Greece’s gen­eral sec­re­tary for pub­lic rev­enues, Haris Theo­haris.

Greece will auc­tion 1.25 bil­lion eu­ros of six-month Trea­sury bills on Tues­day to re­fi­nance a ma­tur­ing is­sue, the Pub­lic Debt Man­age­ment Agency (PDMA) an­nounced yes­ter­day. The set- tle­ment date will be Fri­day, Jan­uary 10. Only pri­mary deal­ers will be al­lowed to par­tic­i­pate and no com­mis­sion will be paid. Monthly T-bill sales are Greece’s sole re­main­ing source of mar­ket fund­ing. Athens has a stock of about 15 bil­lion eu­ros of T-bills that it reg­u­larly re­fi­nances with the help of cri­sis-struck Greek banks.

Cypriot sav­ings.

Con­sumers’ and com­pa­nies’ de­posits rose in Cypriot banks in Novem­ber, the first in­crease in 17 months on the is­land where big ac­count-hold­ers in the two largest lenders were forced to take a hit as part of an in­ter­na­tional bailout last year. Pri­vate sec­tor de­posits rose by 0.8 per­cent to 35.4 bil­lion eu­ros af­ter a 1.3 per­cent fall in Oc­to­ber, Euro­pean Cen­tral Bank data showed yes­ter­day. The de­posits are still 30 per­cent be­low their peak of 50.5 bil­lion eu­ros in May of 2012.

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