Bank credit and deposits: August 2018

27/09/2018 - Press Releases

In August 2018, the annual growth rate of total credit extended to the economy stood at -2.3% from -2.5% in the previous month and the monthly net flow was positive at €151 million, compared with a negative net flow of €856 million in the previous month.

The annual growth rate of total deposits stood at 10.4% from 10.1% in the previous month and the monthly net flow was positive at €2,013 million, compared with a positive net flow of €1,128 million in July 2018.

I. Credit to the domestic economy

Ι.1 Credit to the general government (1)

In August 2018, the monthly net flow of credit to the general government was positive at €457 million, compared with a positive net flow of €143 million in the previous month. The annual growth rate of credit to the general government stood at -7.1% from -8.4% in the previous month.

Ι.2 Credit to the private sector

In August 2018, the annual growth rate of credit to the private sector stood at -1.5%, unchanged from the previous month. The monthly net flow of credit to the private sector was negative at €307 million, compared with a negative net flow of €998 million in the previous month.

Ι.2.1 Credit to corporations

In August 2018, the monthly net flow of credit to corporations was negative at €101 million, compared with a negative net flow of €931 million in the previous month; the annual growth rate stood at -1.1%, unchanged from the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at -0.9% from -1.0% in the previous month and the monthly net flow of credit was negative at €122 million, against a negative net flow of €830 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at -3.2% from -2.6% in the previous month, while the monthly net flow was positive at €21 million, compared with a negative net flow of €102 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In August 2018, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at €22 million, compared with a negative net flow of €17 million in the previous month; the annual growth rate stood at -1.5%, unchanged from the previous month.

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

In August 2018, the monthly net flow of credit to individuals and private non-profit institutions was negative at €184 million, compared with a negative net flow of €50 million in the previous month; the annual growth rate stood at -2.0%, 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 August 2018, deposits placed by the general government increased by €717 million, compared with an increase of €287 million in the previous month and the annual growth rate stood at 46.8% from 41.3% in the previous month.

ΙΙ.2 Deposits placed by the private sector

In August 2018, deposits placed by the private sector increased by €1,297 million, compared with an increase of €841 million in the previous month, while the annual growth rate stood at 7.3% from 7.4% in the previous month.

ΙΙ.2.1 Corporate deposits

In August 2018, corporate deposits increased by €533 million, compared with an increase of €301 million in the previous month, while the annual growth rate stood at 10.2% from 11.4% in the previous month. In particular, deposits from non-financial corporations increased by €462 million, against a decrease of €54 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €71 million, compared with an increase of €354 million in the previous month.

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

In August 2018, deposits placed by households and private non-profit institutions increased by €764 million, compared with an increase of €540 million in the previous month and the annual growth rate stood at 6.6%, unchanged from the previous month.

Note: The next Press Release on “Bank credit and deposits” for September 2018 will be published on 24 October 2018, 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.