Bank credit and deposits: August 2023
27/09/2023 - Press Releases
- The annual growth rate of total credit extended to the domestic economy stood at 1.2% in August 2023, compared with 0.6% in the previous month.
- The annual growth rate of total deposits stood at 2.7% in August 2023, compared with 2.8% in the previous month.
- Deposits placed by the private sector increased by €190 million in August 2023, compared with a decrease of €136 million in the previous month.
I. Credit to the domestic economy
Τhe monthly net flow of total credit was negative by €566 million in August 2023, compared with a negative net flow of €1,157 million in the previous month.
Ι.1 Credit to the general government
In August 2023, the monthly net flow of credit to the general government was negative by €165 million, compared with a positive net flow of €193 million in the previous month; the annual growth rate increased to 1.6% compared with -0.4% in the previous month.
Ι.2 Credit to the private sector
In August 2023, the annual growth rate of credit to the private sector decreased to 0.9% from 1.2% in the previous month. The monthly net flow of credit was negative by €401 million, compared with a negative net flow of €1,350 million in the previous month.
Ι.2.1 Credit to corporations
In August 2023, the monthly net flow of credit to corporations was negative by €319 million, compared with a negative net flow of €1,175 million in the previous month; the annual growth rate decreased to 3.0% from 3.7% in the previous month. In particular, the annual growth rate of credit to non-financial corporations (NFCs) decreased to 2.4% from 3.1% in the previous month; the monthly net flow was negative by €293 million, compared with a negative net flow of €1,146 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at 8.6% from 8.5% in the previous month; the monthly net flow was negative by €25 million, compared with a negative net flow of €29 million in the previous month.
Ι.2.2 Credit to sole proprietors and unincorporated partnerships
In August 2023, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative by €16 million, compared with a negative net flow of €100 million in the previous month; the annual growth rate stood at -3.2% compared with -3.3% in the previous month.
Ι.2.3 Credit to individuals and private non-profit institutions
In August 2023, the monthly net flow of credit to individuals and private non-profit institutions was negative by €67 million, compared with a negative net flow of €74 million in the previous month; the annual growth rate stood at -2.4% compared with -2.6% in the previous month.
II. Deposits by the domestic economy with the domestic credit institutions
In August 2023, the monthly net flow of total deposits was positive by €408 million, compared with a negative net flow of €159 million in July 2023.
ΙΙ.1 Deposits placed by the general government
In August 2023, deposits placed by the general government increased by €218 million, compared with a decrease of €23 million in the previous month; the annual growth rate stood at -5.4% compared with -2.3% in the previous month.
ΙΙ.2 Deposits placed by the private sector
In August 2023, deposits placed by the private sector increased by €190 million, compared with a decrease of €136 million in the previous month; the annual growth rate stood at 3.2% from 3.1% in the previous month.
ΙΙ.2.1 Corporate deposits
In August 2023, corporate deposits decreased by €249 million, compared with a decrease of €299 million in the previous month; the annual growth rate increased to 2.6% compared to 2.3% in the previous month. In particular, deposits from NFCs decreased by €206 million, against a decrease of €380 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries decreased by €43 million, compared with an increase of €81 million in the previous month.
ΙΙ.2.2 Deposits placed by households and private non-profit institutions
In August 2023, deposits placed by households and private non-profit institutions increased by €439 million, compared with an increase of €163 million in the previous month; the annual growth rate stood at 3.3% from 3.4% in the previous month.
Notes:
- The general government includes central government, local government and social security funds.
- Deposits include repos.
- The Bank of Greece is not included in domestic credit institutions.
Related information:
The next Press Release on “Bank credit and deposits” for September 2023 will be published on 25 October 2023, in accordance with the Advance release calendar, published on the Bank of Greece website.
Related links:
Credit Aggregates
Bank Deposits