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In a statement made on Monday, Piraeus Bank said its customer deposits totaled 38.1 billion euros at the end of September, of which 34.5 billion deposits were in Greece.
The bank said that economic and political conditions in Greece showed signs of stabilization following the agreement with the institutions in mid-July, and as of the termination of the bank holiday on the 20th of July 2015 to date (mid-October), there have been 0.5 billion euros in net domestic deposit inflows.
Piraeus Bank said that Eurosystem funding decreased from 37.3 billion euros at the end of June 2015 to 35.8 bn at the end of September, with ELA down from 22.2 billion euros at the end of June to 21.2 bn at the end of September. Gross loans stood at 68.9 billion euros at the end of September 2015 (of which 63.3 bn in Greece) from 70.0 billion at the end of June 2015 (of which 64.2 bn in Greece).
Further reduction of time deposit rates in Greece in the third quarter (front book at 110 bps in Sep 2015 against 174 bps in June 2015, monthly averages), partially contributed to offsetting the ELA burden (in excess of 2 pct cost including State fee for Pillar 2 as collateral).
(Source: ANA-MPA)
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