Bank credit and deposits: March 2018

30/04/2018 - Press Releases

In March 2018, the annual growth rate of total credit extended to the economy stood at -2.0% from -1.8% in the previous month, while the monthly net flow was negative at €850 million, compared with a negative net flow of €1,141 million in the previous month.

The annual growth rate of total deposits stood at 8.7% from 7.7% in the previous month, while the monthly net flow was positive at €786 million, compared with a positive net flow of €528 million in February 2018.

I. Credit to the domestic economy

Ι.1 Credit to the general government (1)

In March 2018, the monthly net flow of credit to the general government was negative at €1,069 million, compared with a negative net flow of €759 million in the previous month. The annual growth rate of credit to the general government stood at -8.5% from -7.0% in the previous month.

Ι.2 Credit to the private sector

In March 2018, the annual growth rate of credit to the private sector stood at -1.0% from -0.9% in the previous month. The monthly net flow of credit to the private sector was positive at €219 million, compared with a negative net flow of €382 million in the previous month.

Ι.2.1 Credit to corporations

In March 2018, the monthly net flow of credit to corporations was positive at €389 million, compared with a negative net flow of €172 million in the previous month, while the annual growth rate of credit stood at 0.1% from 0.3% in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at -0.2% from 0.1% in the previous month, while the monthly net flow of credit was positive at €225 million, against a negative net flow of €215 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at 4.6% from 2.6% in the previous month, while the monthly net flow was positive at €164 million, compared with a positive net flow of €43 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In March 2018, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at €12 million, compared with a negative net flow of €36 million in the previous month; the annual growth rate stood at -0.8% from -0.3% in the previous month.

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

In March 2018, the monthly net flow of credit to individuals and private non-profit institutions was negative at €157 million, compared with a negative net flow of €173 million in the previous month; the annual growth rate stood at -2.2% from -2.4% in 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 March 2018, deposits by the general government decreased by €357 million, compared with an increase of €469 million in the previous month, while the annual growth rate stood at 35.3% from 30.3% in the previous month.

ΙΙ.2 Deposits placed by the private sector

In March 2018, deposits placed by the private sector increased by €1,143 million, compared with an increase of €59 million in the previous month and the annual growth rate stood at 6.3% from 5.6% in the previous month.

ΙΙ.2.1 Corporate deposits

In March 2018, corporate deposits increased by €151 million, compared with a decrease of €447 million in the previous month and the annual growth rate stood at 7.4% from 9.8% in the previous month. In particular, deposits from non-financial corporations increased by €654 million, against a decrease of €609 million in the previous month, while deposits placed by insurance corporations and other financial intermediaries decreased by €502 million, in March 2018, compared with an increase of €162 million in the previous month.

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

In March 2018, deposits placed by households and private non-profit institutions increased by €992 million, compared with an increase of €505 million in the previous month and the annual growth rate stood at 6.1% from 4.8% in the previous month.

Note: The next Press Release on “Bank credit and deposits” for April 2018 will be published on 29 May 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.