The Greek Competition Commission has started a sector inquiry into banking deposits due to the observed low interest rates offered by Greek banks compared to the European average.

The inquiry aims to assess competition conditions in the banking deposits market, identify any distortions, and propose measures to enhance competition for the benefit of depositors.

By launching this inquiry, the Commission underscores the importance of smooth competition in the financial sector for the development of the Greek economy and utilizes available intervention tools under current legislation.

A public consultation has been announced as part of the first phase of the inquiry, inviting stakeholders to submit their comments and positions on competition conditions in banking deposits by email.