Greek banks continue to hemorrhage deposits: ECB data

FRANKFURT (Reuters) - Firms and consumers continued to pull their money out of Greek banks at a rapid rate in January, European Central Bank data showed on Monday, underscoring the ongoing lack of trust the country's banking system faces.

Private sector deposits in Greek banks fell by almost 3 percent in January after a slight increase in December, with the total falling to 174.9 billion euros, the lowest level since November 2006.

They are now about 28 percent below their peak in December 2009.

Private-sector deposits in Portugal and other countries in the middle of the debt crisis fared much better, however. In Portugal, they increased fractionally, to 233.2 billion. Deposits fell slightly in Italy, Ireland and Spain.

Read more: http://finance.yahoo.com/news/greek-banks-continue-hemorrhage-deposits-104757612.html