IMF: Greek deposits drop by 14% of GDP in five years

Outstanding loans from commercial banks stood at 108.51% of Greece’s GDP in 2013, down from 113% in 2012 and 82% in 2008, according to the International Monetary Fund’s Financial Access Survey for 2014 published on Tuesday.

The noted decrease is however owed to a sharp drop in the country’s GDP from €233,198bn in 2008 to €182,054bn in 2013.

The FAS data also shows that each citizen has an average of three deposit accounts with commercial banks, with the total amount of deposits declining by 14.1% of the GDP in the period from 2008 to 2013.

Specifically, outstanding deposits with commercial banks stood at 80.44% of the GDP in 2013, down from 79.52% in 2012 and 94.54% in 2008.

The number of ATMs dropped from 59 per square km in 2008 to 45 in 2013, equaling a decrease of 23%. During the same period the number of commercial bank branches also dropped from 31.16 per square km to 23.58.

You may also like...