Greek banks are better prepared than in 2012 and a possible outflow of deposits will be manageable, according to a Fitch Ratings analysis published on January 19. However, the report notes that local lenders will face a greater risk from any prolonged political and economic uncertainty and a delay in reaching an agreement with the country’s creditors.

Fitch estimates that the outflow of deposits since mid-December has reached 2% of the whole of the credit system's balance. It also estimated that withdrawals will continue as the day of the general election draws nearer. Further pressure on the cash flow of the Greek credit system will come from the decline of the euro against the Swiss franc, according to Fitch.

"Nevertheless, banks have built up liquidity buffers and have access to central bank funding that should enable them to withstand substantial liquidity stress" says the international firm.