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Bank credit and deposits: February 2020

26/03/2020 - Press Releases

In February 2020, the annual growth rate of total credit extended to the domestic economy stood at -0.9% from -1.4% in the previous month and the monthly net flow was positive at €302 million, compared with a negative net flow of €1,718 million in the previous month.

The annual growth rate of total deposits increased to 4.9% from 4.5% in the previous month and the monthly net flow was positive at €94 million, compared with a negative net flow of €2,006 million in January 2020.

  1. Credit to the domestic economy

     

    Ι.1 Credit to the general government[1]

    In February 2020, the monthly net flow of credit to the general government was negative at €58 million, compared with a negative net flow of €910 million in the previous month; the annual growth rate stood at -2.3% from -5.9% in the previous month.

    Ι.2 Credit to the private sector

    In February 2020, the annual growth rate of credit to the private sector stood at          -0.7% from -0.6% in the previous month. The monthly net flow of credit to the private sector was positive at €360 million, compared with a negative net flow of €808 million in the previous month.

    Ι.2.1 Credit to corporations

    In February 2020, the monthly net flow of credit to corporations was positive at €520 million, compared with a negative net flow of €476 million in the previous month; the annual growth rate fell to 1.5% compared with 1.7% in the previous month. In particular, the annual growth rate of credit to non-financial corporations fell to 1.2% compared with 1.6% in the previous month, while the monthly net flow was positive at €418 million, against a negative net flow of €349 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries increased to 5.5% from 3.2% in the previous month and the monthly net flow was positive at €102 million, compared with a negative net flow of €127 million in the previous month.

    Ι.2.2 Credit to sole proprietors and unincorporated partnerships

    In February 2020, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at €3 million, compared with a negative net flow of €90 million in the previous month; the annual growth rate stood at -2.4%, unchanged from the previous month.

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

    In February 2020, the monthly net flow of credit to individuals and private non-profit institutions was negative at €156 million, compared with a negative net flow of €242 million in the previous month; the annual growth rate stood at -2.9%, unchanged from 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 February 2020, deposits placed by the general government decreased by €963 million, compared with an increase of €157 million in the previous month and the annual growth rate stood at -15.8% from -9.1% in the previous month.

ΙΙ.2        Deposits placed by the private sector

In February 2020, deposits placed by the private sector increased by €1,057 million, compared with a decrease of €2,163 million in the previous month and the annual growth rate increased to 7.7% from 6.3% in the previous month.

ΙΙ.2.1 Corporate deposits

In February 2020, corporate deposits increased by €599 million, compared with a decrease of €1,196 million in the previous month and the annual growth rate increased to 17.3% from 9.4% in the previous month. In particular, deposits from non-financial corporations increased by €484 million, against a decrease of €1,586 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €115 million, compared with an increase of €390 million in the previous month.

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

In February 2020, deposits placed by households and private non-profit institutions increased by €458 million, compared with a decrease of €967 million in the previous month; the annual growth rate increased to 5.8% from 5.6% in the previous month.

Note: The next Press Release on “Bank credit and deposits” for March 2020 will be published on 29 April 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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