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01/07/2019 - Bank credit and deposits: May 2019

In May 2019, the annual growth rate of total credit extended to the domestic economy stood at 0.1% from zero in the previous month, while the monthly net flow was negative at €529 million, compared with a negative net flow of €98 million in the previous month.

The annual growth rate of total deposits stood at 5.2% from 5.7% in the previous month and the monthly net flow was positive at €844 million, compared with a negative net flow of €889 million in April 2019.

I. Credit to the domestic economy

Ι.1 Credit to the general government
(1)

In May 2019, the monthly net flow of credit to the general government was negative at €273 million, compared with a positive net flow of €222 million in the previous month; the annual growth rate stood at 1.6% from 0.6% in the previous month.

Ι.2 Credit to the private sector

In May 2019, the annual growth rate of credit to the private sector stood at -0.1% unchanged from the previous month. The monthly net flow of credit to the private sector was negative at €256 million, compared with a negative net flow of €319 million in the previous month.

Ι.2.1 Credit to corporations

In May 2019, the monthly net flow of credit to corporations was negative at €49 million, compared with a negative net flow of €82 million in the previous month; the annual growth rate stood at 2.3% from 2.1% in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at 2.7% from 2.6% in the previous month, while the monthly net flow was negative at €98 million, against a positive net flow of €61 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at -2.6% from -3.9% in the previous month, while the monthly net flow was positive at €49 million, compared with a negative net flow of €143 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In May 2019, the monthly net flow of credit to sole proprietors and unincorporated partnerships was positive at €1 million, compared with a negative net flow of €30 million in the previous month; the annual growth rate stood at -1.7% unchanged from the previous month.

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

In May 2019, the monthly net flow of credit to individuals and private non-profit institutions was negative at €208 million, compared with a negative net flow of €207 million in the previous month; the annual growth rate stood at -2.5% from -2.3% 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 May 2019, deposits placed by the general government increased by €282 million, compared with a decrease of €2,431 million in the previous month and the annual growth rate stood at 0.8% from 2.5% in the previous month.

ΙΙ.2 Deposits placed by the private sector

In May 2019, deposits placed by the private sector increased by €562 million, compared with an increase of €1,542 million in the previous month and the annual growth rate stood at 5.7% from 6.0% in the previous month.

ΙΙ.2.1 Corporate deposits

In May 2019, corporate deposits increased by €217 million, compared with an increase of €709 million in the previous month, while the annual growth rate stood at 3.6% from 5.3% in the previous month. In particular, deposits from non-financial corporations increased by €150 million, against an increase of €535 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €67 million, compared with an increase of €174 million in the previous month.

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

In May 2019, deposits placed by households and private non-profit institutions increased by €345 million, compared with an increase of €833 million in the previous month; the annual growth rate stood at 6.2% unchanged from the previous month.

Note: The next Press Release on “Bank credit and deposits” for June 2019 will be published on 24 July, 2019, in accordance with the Advance release calendar, published on the Bank of Greece website.

(1) The general government includes central government, local government and social security funds.

(2) Including repos.

(3) Excluding the Bank of Greece.

Related link: Bank credit and deposits: May 2019 - Table