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Bank credit and deposits: March 2020

29/04/2020 - Press Releases

 n March 2020, the annual growth rate of total credit extended to the domestic economy increased to 0.7% from -1.0% in the previous month and the monthly net flow was positive at €3,784 million, compared with a positive net flow of €262 million in the previous month.

The annual growth rate of total deposits increased to 8.0% from 4.9% in the previous month and the monthly net flow was positive at €5,150 million, compared with a positive net flow of €96 million in February 2020.

 

  1. Credit to the domestic economy

     

    Ι.1 Credit to the general government[1]

    In March 2020, the monthly net flow of credit to the general government was positive at €2,082 million, compared with a negative net flow of €40 million in the previous month; the annual growth rate increased to 4.1% from -2.3% in the previous month.

     

    Ι.2 Credit to the private sector

    In March 2020, the annual growth rate of credit to the private sector increased to 0.1% from -0.8% in the previous month. The monthly net flow of credit to the private sector was positive at €1,702 million, compared with a positive net flow of €302 million in the previous month.

    Ι.2.1 Credit to corporations

    In March 2020, the monthly net flow of credit to corporations was positive at €1,859 million, compared with a positive net flow of €462 million in the previous month; the annual growth rate increased to 3.6% from 1.4% in the previous month. In particular, the annual growth rate of credit to non-financial corporations increased to 3.4% from 1.1% in the previous month and the monthly net flow was positive at €1,655 million, against a positive net flow of €360 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries increased to 6.1% from 5.5% in the previous month and the monthly net flow was positive at €205 million, compared with a positive net flow of €102 million in the previous month.

     

    Ι.2.2 Credit to sole proprietors and unincorporated partnerships

    In March 2020, the monthly net flow of credit to sole proprietors and unincorporated partnerships was positive at €20 million, compared with a negative net flow of €3 million in the previous month; the annual growth rate stood at -2.4%, unchanged from the previous month.

     

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

    In March 2020, the monthly net flow of credit to individuals and private non-profit institutions was negative at €178 million, compared with a negative net flow of €156 million in the previous month; the annual growth rate stood at -2.9%, unchanged from the previous month.

     

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

 

ΙΙ.1 Deposits placed by the general government

In March 2020, deposits placed by the general government increased by €2,304 million, compared with a decrease of €963 million in the previous month and the annual growth rate increased to 1.7% from -15.8% in the previous month.

 

ΙΙ.2        Deposits placed by the private sector

In March 2020, deposits placed by the private sector increased by €2,846 million, compared with an increase of €1,059 million in the previous month and the annual growth rate increased to 8.8% from 7.7% in the previous month.

 

ΙΙ.2.1 Corporate deposits

In March 2020, corporate deposits increased by €1,505 million, compared with an increase of €601 million in the previous month and the annual growth rate increased to 19.8% from 17.3% in the previous month. In particular, deposits from non-financial corporations increased by €1,677 million, against an increase of €484 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries decreased by €172 million, compared with an increase of €117 million in the previous month.

 

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

In March 2020, deposits placed by households and private non-profit institutions increased by €1,341 million, compared with an increase of €458 million in the previous month; the annual growth rate increased to 6.5% from 5.8% in the previous month. 

Note: The next Press Release on “Bank credit and deposits” for April 2020 will be published on 29 May 2020, in accordance with the Advance release calendars, published on the Bank of Greece website (Credit Aggregates, Bank Deposits).

 

[1] The general government includes central government, local government and social security funds.

[2] Including repos.

[3] Excluding the Bank of Greece.

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