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Bank credit and deposits: November 2019

03/01/2020 - Press Releases

In November 2019, the annual growth rate of total credit extended to the domestic economy stood at -0.8%, unchanged from the previous month and the monthly net flow was positive at €78 million, compared with a positive net flow of €474 million in the previous month. 

The annual growth rate of total deposits increased to 4.4% from 3.8% in the previous month and the monthly net flow was positive at €632 million, compared with a positive net flow of €50 million in October 2019.

Ι.Credit to the domestic economy

Ι.1 Credit to the general government[1]

In November 2019, the monthly net flow of credit to the general government was positive at €18 million, compared with a positive net flow of €905 million in the previous month; the annual growth rate stood at -4.0% from -4.3% in the previous month.

Ι.2 Credit to the private sector

In November 2019, the annual growth rate of credit to the private sector stood at -0.3% from -0.2% in the previous month. The monthly net flow of credit to the private sector was positive at €60 million, compared with a negative net flow of €431 million in the previous month.

Ι.2.1 Credit to corporations

In November 2019, the monthly net flow of credit to corporations was positive at €276 million, compared with a negative net flow of €68 million in the previous month; the annual growth rate stood at 2.5%, unchanged from the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at 2.5%, unchanged from the previous month and the monthly net flow was positive at €243 million, against a negative net flow of €128 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries increased to 2.8% from 2.5% in the previous month, while the monthly net flow was positive at €33 million, compared with a positive net flow of €60 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In November 2019, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at €49 million, compared with a negative net flow of €95 million in the previous month; the annual growth rate stood at -2.2% from -2.0% in the previous month.

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

In November 2019, the monthly net flow of credit to individuals and private non-profit institutions was negative at €167 million, compared with a negative net flow of €268 million in the previous month; the annual growth rate stood at -2.9% from -2.8% in the previous month.

 

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

ΙΙ.1 Deposits placed by the general government

In November 2019, deposits placed by the general government increased by €838 million, compared with a decrease of €593 million in the previous month and the annual growth rate stood at -11.8% from -17.7% in the previous month.

ΙΙ.2 Deposits placed by the private sector

In November 2019, deposits placed by the private sector decreased by €206 million, compared with an increase of €643 million in the previous month and the annual growth rate stood at 6.5%, unchanged from the previous month.

ΙΙ.2.1 Corporate deposits

In November 2019, corporate deposits decreased by €257 million, compared with an increase of €186 million in the previous month and the annual growth rate decreased to 6.2% from 6.7% in the previous month. In particular, deposits from non-financial corporations decreased by €298 million, against a decrease of €272 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €41 million, compared with an increase of €458 million in the previous month.

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

In November 2019, deposits placed by households and private non-profit institutions increased by €51 million, compared with an increase of €457 million in the previous month; the annual growth rate stood at 6.5%, unchanged from the previous month.

 

Note: The next Press Release on “Bank credit and deposits” for December 2019 will be published on 29 January 2020, in accordance with the Advance release calendar, published on the Bank of Greece website.

 

[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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