Press Releases

Bank credit and deposits: December 2019

29/01/2020 - Press Releases

In December 2019, the annual growth rate of total credit extended to the domestic economy stood at -1.2% from -0.8% in the previous month, while the monthly net flow was positive at €799 million, compared with a positive net flow of €131 million in the previous month.

The annual growth rate of total deposits stood at 4.6% from 4.5% in the previous month and the monthly net flow was positive at €5,169 million, compared with a positive net flow of €666 million in November 2019.

1.Credit to the domestic economy

Ι.1 Credit to the general government [1]

In December 2019, the monthly net flow of credit to the general government was positive at €371 million, compared with a positive net flow of €14 million in the previous month; the annual growth rate stood at -5.5% from -4.0% in the previous month.

Ι.2 Credit to the private sector

In December 2019, the annual growth rate of credit to the private sector stood at     -0.5% from -0.2% in the previous month. The monthly net flow of credit to the private sector was positive at €428 million, compared with a positive net flow of €116 million in the previous month.

Ι.2.1 Credit to corporations

In December 2019, the monthly net flow of credit to corporations was positive at €511 million, compared with a positive net flow of €300 million in the previous month; the annual growth rate decreased to 1.9% from 2.5% in the previous month. In particular, the annual growth rate of credit to non-financial corporations decreased to 1.9% from 2.5% in the previous month, while the monthly net flow was positive at €534 million, against a positive net flow of €267 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries decreased to 2.1% from 2.8% in the previous month and the monthly net flow was negative at €23 million, compared with a positive net flow of €33 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In December 2019, the monthly net flow of credit to sole proprietors and unincorporated partnerships was positive at €14 million, compared with a negative net flow of €32 million in the previous month; the annual growth rate stood at -1.9% from -2.1% in the previous month.

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

In December 2019, the monthly net flow of credit to individuals and private non-profit institutions was negative at €97 million, compared with a negative net flow of €152 million in the previous month; the annual growth rate stood at -2.8% from -2.9% in 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 December 2019, deposits placed by the general government increased by €1,522 million, compared with an increase of €845 million in the previous month and the annual growth rate stood at -11.1% from -11.8% in the previous month.

ΙΙ.2 Deposits placed by the private sector

In December 2019, deposits placed by the private sector increased by €3,647 million, compared with a decrease of €179 million in the previous month and the annual growth rate increased to 6.7% from 6.5% in the previous month.

ΙΙ.2.1 Corporate deposits

In December 2019, corporate deposits increased by €1,800 million, compared with a decrease of €267 million in the previous month and the annual growth rate increased to 9.8% from 6.2% in the previous month. In particular, deposits from non-financial corporations increased by €2,321 million, against a decrease of €292 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries decreased by €521 million, compared with an increase of €25 million in the previous month.

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

In December 2019, deposits placed by households and private non-profit institutions increased by €1,847 million, compared with an increase of €88 million in the previous month; the annual growth rate decreased to 6.0% from 6.5% in the previous month.

Note: The next Press Release on “Bank credit and deposits” for January 2020 will be published on 27 February 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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