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Bank credit and deposits: June 2023

26/07/2023 - Press Releases

- The annual growth rate of total credit extended to the domestic economy stood at 2.7% in June 2023, compared with 3.8% in the previous month.

- The annual growth rate of total deposits stood at 3.4% in June 2023, compared with 3.3% in the previous month.

- Deposits placed by the private sector increased by €3,014 million in June 2023, compared with an increase of €790 million in the previous month.

I. Credit to the domestic economy

Τhe monthly net flow of total credit was positive by €587 million in June 2023, compared with a positive net flow of €405 million in the previous month.

Ι.1 Credit to the general government

In June 2023, the monthly net flow of credit to the general government was negative by €1,212 million, compared with a positive net flow of €680 million in the previous month; the annual growth rate decreased to 2.7% from 4.8% in the previous month.

Ι.2 Credit to the private sector

In June 2023, the annual growth rate of credit to the private sector decreased to 2.8% from 3.1% in the previous month. The monthly net flow of credit was positive by €1,799 million, compared with a negative net flow of €275 million in the previous month.

Ι.2.1 Credit to corporations

In June 2023, the monthly net flow of credit to corporations was positive by €1,633 million, compared with a negative net flow of €170 million in the previous month; the annual growth rate decreased to 6.3% from 7.0% in the previous month. In particular, the annual growth rate of credit to non-financial corporations (NFCs) decreased to 5.8% from 6.7% in the previous month; the monthly net flow was positive by €1,399 million, compared with a negative net flow of €335 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries increased to 11.1% from 9.6% in the previous month; the monthly net flow was positive by €234 million, compared with a positive net flow of €164 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In June 2023, the monthly net flow of credit to sole proprietors and unincorporated partnerships was positive by €103 million, compared with a negative net flow of €24 million in the previous month; the annual growth rate stood at -2.4% compared with -2.8% in the previous month.

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

In June 2023, the monthly net flow of credit to individuals and private non-profit institutions was positive by €63 million, compared with a negative net flow of €80 million in the previous month; the annual growth rate stood at -2.7% compared with -2.8% in the previous month.

II. Deposits by the domestic economy with the domestic credit institutions

In June 2023, the monthly net flow of total deposits was positive by €2,579 million, compared with a positive net flow of €787 million in May 2023.

ΙΙ.1 Deposits placed by the general government

In June 2023, deposits placed by the general government decreased by €435 million, compared with a decrease of €3 million in the previous month; the annual growth rate increased to 2.6% from 2.3% in the previous month.

ΙΙ.2 Deposits placed by the private sector

In June 2023, deposits placed by the private sector increased by €3,014 million, compared with an increase of €790 million in the previous month; the annual growth rate increased to 3.5% from 3.3% in the previous month.

ΙΙ.2.1 Corporate deposits

In June 2023, corporate deposits increased by €2,073 million, compared with an increase of €1,117 million in the previous month; the annual growth rate remained unchanged at 2.3% compared to the previous month. In particular, deposits from NFCs increased by €2,432 million, against an increase of €752 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries decreased by €359 million, compared with an increase of €365 million in the previous month.

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

In June 2023, deposits placed by households and private non-profit institutions increased by €941 million, compared with a decrease of €327 million in the previous month; the annual growth rate remained almost unchanged at 3.8% compared to the previous month.

Notes:

  1. The general government includes central government, local government and social security funds.
  2. Deposits include repos.
  3. The Bank of Greece is not included in domestic credit institutions.

Related information:

The next Press Release on “Bank credit and deposits” for July 2023 will be published on 28 August 2023, in accordance with the Advance release calendar, published on the Bank of Greece website.

Related links:

Credit Aggregates

Bank Deposits

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