Bank credit and deposits: February 2019

28/03/2019 - Press Releases

In February 2019, the annual growth rate of total credit extended to the economy stood at -1.2% from -1.4% in the previous month and the monthly net flow was negative at €692 million, compared with a negative net flow of €1,530 million in the previous month.

The annual growth rate of total deposits stood at 7.2% from 8.0% in the previous month and the monthly net flow was negative at €504 million, compared with a negative net flow of €1,788 million in January 2019.

I. Credit to the domestic economy

Ι.1 Credit to the general government (1)

In February 2019, the monthly net flow of credit to the general government was negative at €1,150 million, compared with a negative net flow of €825 million in the previous month. The annual growth rate of credit to the general government stood at -4.9% from -3.4% in the previous month.

Ι.2 Credit to the private sector

In February 2019, the annual growth rate of credit to the private sector stood at -0.6% from -1.1% in the previous month. The monthly net flow of credit to the private sector was positive at €458 million, compared with a negative net flow of €705 million in the previous month.

Ι.2.1 Credit to corporations

In February 2019, the monthly net flow of credit to corporations was positive at €603 million, compared with a negative net flow of €408 million in the previous month; the annual growth rate stood at 1.0% from 0.2% in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at 1.6% from 0.5% in the previous month, while the monthly net flow of credit was positive at €651 million, against a negative net flow of €216 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at -5.8% from
-4.5% in the previous month and the monthly net flow was negative at €47 million, compared with a negative net flow of €192 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In February 2019, the monthly net flow of credit to sole proprietors and unincorporated partnerships was positive at €2 million, compared with a negative net flow of €39 million in the previous month; the annual growth rate stood at -1.6% from -1.9% in the previous month.

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

In February 2019, the monthly net flow of credit to individuals and private non-profit institutions was negative at €147 million, compared with a negative net flow of €258 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 February 2019, deposits placed by the general government increased by €284 million, compared with a decrease of €241 million in the previous month and the annual growth rate stood at 21.2% from 23.2% in the previous month.

ΙΙ.2 Deposits placed by the private sector

In February 2019, deposits placed by the private sector decreased by €789 million, compared with a decrease of €1,547 million in the previous month and the annual growth rate stood at 5.5% from 6.2% in the previous month.

ΙΙ.2.1 Corporate deposits

In February 2019, corporate deposits decreased by €1,065 million, compared with a decrease of €1,008 million in the previous month and the annual growth rate stood at 3.7% from 6.4% in the previous month. In particular, deposits from non-financial corporations decreased by €1,070 million, against a decrease of €1,305 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €4 million, compared with an increase of €297 million in the previous month.

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

In February 2019, deposits placed by households and private non-profit institutions increased by €277 million, compared with a decrease of €539 million in the previous month, while the annual growth rate stood at 5.9% from 6.2% in the previous month.

Note: The next Press Release on “Bank credit and deposits” for March 2019 will be published on 30 April 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.