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26/10/2017 - Bank credit and deposits - September 2017

In September 2017, the annual growth rate of total credit extended to the economy stood at -1.5%, unchanged from the previous month and the monthly net flow was negative at €552 million, compared with a negative net flow of €241 million in the previous month.

The annual growth rate of total deposits stood at 4.7%, unchanged from the previous month and the monthly net flow was positive at €36 million, compared with a positive net flow of €1,500 million in August 2017.

I. Credit to the domestic economy

Ι.1 Credit to the general government(1)

In September 2017, the monthly net flow of credit to general government was negative at €545 million, compared with a positive net flow of €72 million in the previous month. The annual growth rate of credit to general government stood at -5.2% from -5.0%, in the previous month.

Ι.2 Credit to the private sector

In September 2017, the annual growth rate of credit to the private sector stood at -0.8% from -0.9% in the previous month. The monthly net flow of credit to the private sector was negative at €8 million, compared with a negative net flow of €313 million in the previous month.

Ι.2.1 Credit to corporations

In September 2017, the monthly net flow of credit to corporations was positive at €113 million, compared with a negative net flow of €134 million in the previous month and the annual growth rate of credit stood at 0.4% from 0.3% in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at 0.1% from -0.2% in the previous month and the monthly net flow of credit was positive at €61 million, against a negative net flow of €204 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at 4.7% in September 2017 from 6.7% in the previous month and the monthly net flow was positive at €52 million, compared with a positive net flow of €70 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In September 2017, the monthly net flow of credit to sole proprietors and unincorporated partnerships was positive at €13 million, compared with a negative net flow of €28 million in the previous month and its annual growth rate stood at 0.2% from -0.2% in the previous month.

Ι.2.3 Credit to individuals and private non-profit institutions

In September 2017, the monthly net flow of credit to individuals and private non-profit institutions was negative at €133 million, compared with a negative net flow of €150 million in the previous month and its annual growth rate stood at -2.2% from -2.3% in the previous month.


II. Deposits(2) of the domestic economy to domestic credit institutions(3)

ΙΙ.1 Deposits of the general government

 In September 2017, deposits of the general government increased by €88 million, compared with an increase of €93 million in the previous month and the annual growth rate stood at 6.2% from 9.5% in the previous month.

ΙΙ.2 Deposits of the private sector

In September 2017, deposits of the private sector decreased by €52 million, compared with an increase of €1,407 million in the previous month, while the annual growth rate stood at 4.6% from 4.3% in the previous month.

ΙΙ.2.1 Corporate deposits

In September 2017, corporate deposits decreased by €242 million, compared with an increase of €716 million in the previous month, while the annual growth rate stood at 13.7% from 13.0% in the previous month. In particular, deposits from non-financial corporations increased by €416 million, against an increase of €689 million in the previous month, while deposits of insurance corporations and other financial intermediaries decreased by €657 million in September 2017, compared with an increase of €27 million in the previous month.

ΙΙ.2.2 Deposits of households and private non-profit institutions

In September 2017, deposits of households and private non-profit institutions increased by €190 million, compared with an increase of €691 million in the previous month, while the annual growth rate stood at 2.7% from 2.5% in the previous month.

Note: The next Press Release on “Bank credit and deposits” for October 2017 will be published on 28 November 2017.

Related link: Bank credit and deposits: August 2017 - Table

(1) The general government includes central government, local government and social security funds.
(2) Including repos.
(3) Excluding the Bank of Greece.