Press Releases

Bank credit and deposits: January 2021

25/02/2021 - Press Releases

 In January 2021, the annual growth rate of total credit extended to the domestic economy increased to 15.8% from 13.8% in the previous month, while the monthly net flow was positive by €1,858 million, compared with a positive net flow of €2,886 million in the previous month.

The annual growth rate of total deposits increased to 9.6% from 9.5% in the previous month; the monthly net flow was negative by €1,961 million, compared with a positive net flow of €5,109 million in December 2020.

 

1. Credit to the domestic economy

    

   Ι.1 Credit to the general government[1]

   In January 2021, the monthly net flow of credit to the general government was positive by €2,415 million, compared with a positive net flow of €1,324 million in the previous month; the annual growth rate increased to 76.7% from 65.5% in the previous month.

    

   Ι.2 Credit to the private sector

   In January 2021, the annual growth rate of credit to the private sector increased to 3.7% from 3.5% in the previous month. The monthly net flow of credit was negative by €557 million, compared with a positive net flow of €1,562 million in the previous month.

   Ι.2.1 Credit to corporations

   In January 2021, the monthly net flow of credit to corporations was negative by €305 million, compared with a positive net flow of €1,649 million in the previous month; the annual growth rate increased to 9.6% from 9.4% in the previous month. In particular, the annual growth rate of credit to non-financial corporations (NFCs) increased to 10.4% from 10.0% in the previous month; the monthly net flow was negative by €12 million, compared with a positive net flow of €1,218 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries decreased to 0.9% from 3.4% in the previous month; the monthly net flow was negative by €293 million, compared with a positive net flow of €431 million in the previous month.

    

   Ι.2.2 Credit to sole proprietors and unincorporated partnerships

   In January 2021, the monthly net flow of credit to sole proprietors and unincorporated partnerships was positive by €2 million, compared with a positive net flow of €62 million in the previous month; the annual growth rate increased to 2.8% from 1.8% in the previous month.

    

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

   In January 2021, the monthly net flow of credit to individuals and private non-profit institutions was negative by €254 million, compared with a negative net flow of €148 million in the previous month; the annual growth rate remained unchanged at -2.5%.

    

2. Deposits[2] by the domestic economy with the domestic credit institutions[3]

 

ΙΙ.1 Deposits placed by the general government

In January 2021, deposits placed by the general government decreased by €750 million, compared with an increase of €458 million in the previous month; the annual growth rate stood at -40.1% from -34.6% in the previous month.

 

ΙΙ.2       Deposits placed by the private sector

In January 2021, deposits placed by the private sector decreased by €1,211 million, compared with an increase of €4,651 million in the previous month; the annual growth rate increased to 15.2% from 14.4% in the previous month.

 

ΙΙ.2.1 Corporate deposits

In January 2021, corporate deposits decreased by €1,866 million, compared with an increase of €1,218 million in the previous month; the annual growth rate decreased to 39.0% from 39.9% in the previous month. In particular, deposits from NFCs decreased by €1,893 million, against an increase of €1,861 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €27 million, compared with a decrease of €643 million in the previous month.

 

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

In January 2021, deposits placed by households and private non-profit institutions increased by €655 million, compared with an increase of €3,433 million in the previous month; the annual growth rate increased to 10.1% from 8.6% in the previous month.

 

Note: The next Press Release on “Bank credit and deposits” for February 2021 will be published on 26 March 2021, in accordance with the Advance release calendars, published on the Bank of Greece website (Credit Aggregates, Bank Deposits).