Bank credit and deposits: January 2019

27/02/2019 - Press Releases

In January 2019, the annual growth rate of total credit extended to the economy stood at -1.4% from -1.3% in the previous month and the monthly net flow was negative at €1,530 million, compared with a positive net flow of €1,743 million in the previous month.

The annual growth rate of total deposits stood at 8.0% from 10.4% in the previous month and the monthly net flow was negative at €1,788 million, compared with a positive net flow of €4,752 million in December 2018.

I. Credit to the domestic economy

Ι.1 Credit to the general government (1)

In January 2019, the monthly net flow of credit to the general government was negative at €825 million, compared with a positive net flow of €875 million in the previous month. The annual growth rate of credit to the general government stood at -3.4% from -2.0% in the previous month.

Ι.2 Credit to the private sector

In January 2019, the annual growth rate of credit to the private sector stood at -1.1%, unchanged from the previous month. The monthly net flow of credit to the private sector was negative at €705 million, compared with a positive net flow of €868 million in the previous month.

Ι.2.1 Credit to corporations

In January 2019, the monthly net flow of credit to corporations was negative at €408 million, compared with a positive net flow of €1,064 million in the previous month; the annual growth rate stood at 0.2% from 0.0% in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at 0.5% from 0.2% in the previous month, while the monthly net flow of credit was negative at €216 million, against a positive net flow of €1,042 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at -4.5% from -3.0% in the previous month and the monthly net flow was negative at €192 million, compared with a positive net flow of €22 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In January 2019, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at €39 million, compared with a negative net flow of €12 million in the previous month; the annual growth rate stood at -1.9%, unchanged from the previous month.

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

In January 2019, the monthly net flow of credit to individuals and private non-profit institutions was negative at €258 million, compared with a negative net flow of €184 million in the previous month; the annual growth rate stood at -2.2%, unchanged from the previous month.

II. Deposits (2) by the domestic economy with the domestic credit institutions (3)

ΙΙ.1 Deposits placed by the general government

In January 2019, deposits placed by the general government decreased by €241 million, compared with an increase of €1,601 million in the previous month and the annual growth rate stood at 23.2% from 56.3% in the previous month.

ΙΙ.2 Deposits placed by the private sector

In January 2019, deposits placed by the private sector decreased by €1,547 million, compared with an increase of €3,151 million in the previous month and the annual growth rate stood at 6.2% from 6.3% in the previous month.

ΙΙ.2.1 Corporate deposits

In January 2019, corporate deposits decreased by €1,008 million, compared with an increase of €862 million in the previous month and the annual growth rate stood at 6.4% from 9.3% in the previous month. In particular, deposits from non-financial corporations decreased by €1,305 million, against an increase of €1,175 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €297 million, compared with a decrease of €312 million in the previous month.

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

In January 2019, deposits placed by households and private non-profit institutions decreased by €539 million, compared with an increase of €2,288 million in the previous month, while the annual growth rate stood at 6.2% from 5.6% in the previous month.

Note: The next Press Release on “Bank credit and deposits” for February 2019 will be published on 28 March 2019, 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.