Bank credit and deposits: July 2023
28/08/2023 - Press Releases
- The annual growth rate of total credit extended to the domestic economy stood at 0.6% in July 2023, compared with 2.7% in the previous month.
- The annual growth rate of total deposits stood at 2.8% in July 2023, compared with 3.4% in the previous month.
- Deposits placed by the private sector decreased by €191 million in July 2023, compared with an increase of €3,014 million in the previous month.
I. Credit to the domestic economy
Τhe monthly net flow of total credit was negative by €1,112 million in July 2023, compared with a positive net flow of €587 million in the previous month.
Ι.1 Credit to the general government
In July 2023, the monthly net flow of credit to the general government was positive by €283 million, compared with a negative net flow of €1,212 million in the previous month; the annual growth rate stood at -0.2% compared with 2.7% in the previous month.
Ι.2 Credit to the private sector
In July 2023, the annual growth rate of credit to the private sector decreased to 1.2% from 2.8% in the previous month. The monthly net flow of credit was negative by €1,395 million, compared with a positive net flow of €1,799 million in the previous month.
Ι.2.1 Credit to corporations
In July 2023, the monthly net flow of credit to corporations was negative by €1,233 million, compared with a positive net flow of €1,633 million in the previous month; the annual growth rate decreased to 3.6% from 6.3% in the previous month. In particular, the annual growth rate of credit to non-financial corporations (NFCs) decreased to 3.0% from 5.8% in the previous month; the monthly net flow was negative by €1,205 million, compared with a positive net flow of €1,399 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries decreased to 8.5% from 11.1% in the previous month; the monthly net flow was negative by €28 million, compared with a positive net flow of €234 million in the previous month.
Ι.2.2 Credit to sole proprietors and unincorporated partnerships
In July 2023, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative by €78 million, compared with a positive net flow of €103 million in the previous month; the annual growth rate stood at -2.9% compared with -2.4% in the previous month.
Ι.2.3 Credit to individuals and private non-profit institutions
In July 2023, the monthly net flow of credit to individuals and private non-profit institutions was negative by €84 million, compared with a positive net flow of €63 million in the previous month; the annual growth rate stood at -2.6% compared with -2.7% in the previous month.
II. Deposits by the domestic economy with the domestic credit institutions
In July 2023, the monthly net flow of total deposits was negative by €213 million, compared with a positive net flow of €2,579 million in June 2023.
ΙΙ.1 Deposits placed by the general government
In July 2023, deposits placed by the general government decreased by €22 million, compared with a decrease of €435 million in the previous month; the annual growth rate stood at -2.3% compared with 2.6% in the previous month.
ΙΙ.2 Deposits placed by the private sector
In July 2023, deposits placed by the private sector decreased by €191 million, compared with an increase of €3,014 million in the previous month; the annual growth rate decreased to 3.1% from 3.5% in the previous month.
ΙΙ.2.1 Corporate deposits
In July 2023, corporate deposits decreased by €340 million, compared with an increase of €2,073 million in the previous month; the annual growth rate remained unchanged at 2.3% compared to the previous month. In particular, deposits from NFCs decreased by €424 million, against an increase of €2,432 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €83 million, compared with a decrease of €359 million in the previous month.
ΙΙ.2.2 Deposits placed by households and private non-profit institutions
In July 2023, deposits placed by households and private non-profit institutions increased by €149 million, compared with an increase of €941 million in the previous month; the annual growth rate decreased to 3.3% from 3.8% 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 August 2023 will be published on 27 September 2023, in accordance with the Advance release calendar, published on the Bank of Greece website.
Related links:
Credit Aggregates
Bank Deposits