Greek February Bank Deposits Fall EU3 Billion, Naftemporiki Says

Greece’s banking system saw more than 3 billion euros ($4 billion) withdrawn by businesses and households last month, Naftemporiki said, citing bank estimates.

Early figures for March show a stabilization in the amount of money being withdrawn and banks reckon the successful conclusion of Greece’s debt-swap means some funds will return, the Athens-based newspaper reported today.

Deposits dropped to 169 billion euros in January from 174 billion in December, the Bank of Greece (TELL) said on Feb. 29.

To contact the reporter on this story: Paul Tugwell in Athens at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

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