Bank of Greece: Household and business deposits reach 15-year high

Deposits near €205 billion

Private sector deposits in Greece surged in June, reaching their highest level in nearly 15 years. According to the latest data from the Bank of Greece, household and business deposits climbed to €204.5 billion—an increase of €5 billion compared to May.

This rise is attributed to strong tourism revenues and ongoing economic growth, which have boosted disposable income and subsequently led to greater bank savings. The current deposit level is the highest since January 2011 and reflects both an improved capacity for saving and a renewed sense of confidence among citizens in the Greek economy.

During the financial crisis, total deposits had plummeted below €120 billion, particularly amid the capital flight that occurred just before SYRIZA’s first election victory in 2015 and continued through the first two years of Alexis Tsipras' administration.

The majority of the deposit growth in June came from private enterprises, which increased their savings by over €4.4 billion. Household deposits also rose significantly, up nearly €700 million.

The upward trend in deposits coincides with data from ELSTAT released today, showing that gross disposable household income rose by 0.7% in the first quarter of the year compared to the same period in 2024. This increase came even before the latest minimum wage hike was implemented on April 1.