Greek Household Deposits Climb to Highest Level Since 2011

Greek household deposits rose by €428 million in September to €157.3 billion, their highest level since August 2011, Bank of Greece data released on Tuesday showed.

The monthly increase was smaller than the €485 million rise in August, the central bank said. However, annual growth in Greek household deposits climbed to 3.9 per cent from 3.5 per cent.

Even so, balances remain almost €40 billion below their all-time high of €196.9 billion. That record dates from December 2009, on the eve of the Greek debt crisis.

Total deposits across the economy grew by €3.14 billion in September, with Greek household deposits accounting for €428 million of that rise.

Read more: Stournaras: Greece welcomes greater foreign investment in banks

Business accounts outpace Greek household deposits

Corporate deposits rose by €2.36 billion, more than five times the September increase in Greek household deposits. Their annual growth rate eased to 23.0 per cent from 24.9 per cent.

Non-financial corporations added €2.58 billion to their accounts. By comparison, deposits from insurers and other financial intermediaries fell by €221 million.

Private sector deposits climbed by €2.79 billion, compared with €2.83 billion in August, and their annual growth held at 9.1 per cent. In mid-2025, private bank savings had already reached a 15-year peak, Greek City Times reported.

General government deposits rose by €353 million, up from €145 million a month earlier. Their annual growth rate slowed to 7.8 per cent from 8.8 per cent.

Lending to companies slows

The net flow of credit to businesses reached €549 million in September, up from €520 million in August. Yet annual credit growth to businesses slowed to 7.8 per cent from 9.6 per cent.

Specifically, net lending to non-financial corporations jumped to €964 million from €44 million. In contrast, credit to insurers and other financial intermediaries showed a net outflow of €415 million.

Lending to individuals and private non-profit institutions turned positive at €126 million, following a €10 million net outflow in August. Their annual credit growth stood at 2.3 per cent, down from 2.4 per cent.

As a result, the net flow of total credit to the private sector reached €735 million, up from €489 million. Its annual growth rate, however, fell to 6 per cent from 7.3 per cent, the Bank of Greece said.

Finally, credit to the general government showed a net inflow of €9 million, after a €740 million outflow in August. Its annual rate of change stood at minus 3.6 per cent, from minus 2.7 per cent.

Source: Kathimerini

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