Deposits and credit expand

Deposits showed a significant increase in the Greek banking system last month, while corporate credit also posted a notable expansion, according to official figures released on Thursday.

Bank of Greece data showed a significant rise in new loans to businesses by 3.1 billion euros on a monthly basis in June, bringing credit expansion back to a double-digit upward rate of 10.3%.

The increase in disbursements from banks, combined with the strengthening of tourism revenues, also boosted business deposits by more than €3 billion in June compared to May, raising the total of deposits held by both businesses and households to €194.8 billion at the end of June.

Since the beginning of the year, household and corporate deposits have increased by €5.1 billion, most of which - close to €4 billion - comes from the increase in bank balances held by businesses: From €45...