Bank deposits: Seven in ten Greeks hold up to €1,000 in their accounts
New data from the Hellenic Deposit and Investment Guarantee Fund (TEKE) reveal that the vast majority of Greek bank depositors hold very low balances, highlighting a sharp imbalance in the distribution of savings across the banking system.
According to the figures, 71 percent of depositors maintain balances of up to €1,000, yet this group accounts for just 1.3 percent of total bank deposits. These accounts largely function as payment and transaction tools rather than as vehicles for systematic saving.
An additional 13 percent of depositors hold balances between €1,001 and €5,000, representing about 4.8 percent of total deposits. Meanwhile, 13.7 percent of depositors fall within the €5,001 to €50,000 range, holding 34.1 percent of the total.
Taken together, these three categories represent nearly 90 percent of all depositors, but control less than half of the money held in the Greek banking system.
High Concentration Among Wealthier Depositors
The picture changes significantly at higher deposit levels. Depositors with balances between €50,001 and €100,000 make up just 1.5 percent of the total, yet they hold 15.3 percent of all deposits.
Even more striking is the concentration at the top: depositors with balances above €100,000 represent only 0.8 percent of the total number of accounts, but control 44.3 percent of total deposits.
This contrast underscores a pronounced imbalance between the number of depositors and the distribution of financial resources. While most accounts contain small balances, the bulk of banking liquidity is concentrated in the hands of a very limited group.
Implications for Savings Policy
The data help explain why changes in interest rates or savings incentives do not affect all households equally. For most Greeks, limited disposable income leaves little room for meaningful savings, reducing the impact of monetary or banking policy measures aimed at encouraging deposits.
TEKE notes that the data reflect deposits per account and per bank, not unique individuals. As a result, a single depositor may be counted multiple times if they hold accounts at different credit institutions. Even with this caveat, however, the overall picture of deposit distribution in Greece remains clear.
In this context, so-called “large depositors” with just €1,000 in their accounts are not the exception—but the norm.
