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28/01/2019 - Bank credit and deposits: December 2018

In December 2018, the annual growth rate of total credit extended to the economy stood at -1.2% from -1.8% in the previous month and the monthly net flow was positive at €1,765 million, compared with a positive net flow of €17 million in the previous month.

The annual growth rate of total deposits stood at 10.4% from 6.4% in the previous month and the monthly net flow was positive at €4,752 million, compared with a negative net flow of €240 million in November 2018.

I. Credit to the domestic economy

Ι.1 Credit to the general government (1)

In December 2018, the monthly net flow of credit to the general government was positive at €875 million, compared with a negative net flow of €89 million in the previous month. The annual growth rate of credit to the general government stood at -2.0% from -4.4% in the previous month.

Ι.2 Credit to the private sector

In December 2018, the annual growth rate of credit to the private sector stood at -1.1% from -1.4% in the previous month. The monthly net flow of credit to the private sector was positive at €889 million, compared with a positive net flow of €106 million in the previous month.

Ι.2.1 Credit to corporations

In December 2018, the monthly net flow of credit to corporations was positive at €1,086 million, compared with a positive net flow of €269 million in the previous month; the annual growth rate stood at 0.0% from -0.6% in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at 0.3% from -0.6% in the previous month and the monthly net flow of credit was positive at €1,064 million, against a positive net flow of €253 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at -3.0% from 0.1% in the previous month, while the monthly net flow was positive at €22 million, compared with a positive net flow of €16 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In December 2018, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at €12 million, compared with a negative net flow of €24 million in the previous month; the annual growth rate stood at -1.9%, unchanged from the previous month.

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

In December 2018, the monthly net flow of credit to individuals and private non-profit institutions was negative at €184 million, compared with a negative net flow of €139 million in the previous month; the annual growth rate stood at -2.2% from -2.1% in the previous month.

II. Deposits (2) by the domestic economy with the domestic credit institutions (3) 

ΙΙ.1 Deposits placed by the general government


In December 2018, deposits placed by the general government increased by €1,601 million, compared with a decrease of €161 million in the previous month and the annual growth rate stood at 56.3% from 10.8% in the previous month.

ΙΙ.2 Deposits placed by the private sector

In December 2018, deposits placed by the private sector increased by €3.151 million, compared with a decrease of €79 million in the previous month and the annual growth rate stood at 6.3% from 5.9% in the previous month.

ΙΙ.2.1 Corporate deposits

In December 2018, corporate deposits increased by €862 million, compared with a decrease of €140 million in the previous month and the annual growth rate stood at 9.3% from 5.0% in the previous month. In particular, deposits from non-financial corporations increased by €1,175 million, against a decrease of €240 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries decreased by €312 million, compared with an increase of €101 million in the previous month.

ΙΙ.2.2 Deposits placed by households and private non-profit institutions

In December 2018, deposits placed by households and private non-profit institutions increased by €2,288 million, compared with an increase of €60 million in the previous month, while the annual growth rate stood at 5.6% from 6.1% in the previous month.

Note: The next Press Release on “Bank credit and deposits” for January 2019 will be published on 27 February 2019, in accordance with the Advance release calendar, published on the Bank of Greece website.

Related link: Bank credit and deposits: December 2018 - Table

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