Banks see deposits growing by up to 15 bln this year

Greek banks expect a considerable increase in the inflow of deposits within 2018: As a baseline scenario, the four systemic lenders project the rise in deposits from households and enterprises to top 7 billion euros, with the optimistic scenario putting the figure at more than 15 billion euros.

Bank officials note that the inflow will stem from the return of cash stashed in mattresses and safe deposit boxes, from funds in investment products abroad, from the growth of the economy (as gross domestic product is anticipated to expand 2.5 percent in 2018), and from another strong performance by the tourism sector.

They say that unless the above are upset by unexpected negative developments, the increase in deposits should be around 15 billion euros. At the end of 2017 private sector deposits amounted to 126.35 billion euros.

Stability and positive sentiment are...