Bank credit and deposits: January 2018

27/02/2018 - Press Releases

In January 2018, the annual growth rate of total credit extended to the economy stood at -1.6%, unchanged from the previous month, while the monthly net flow was negative at €1,199 million, compared with a positive net flow of €555 million in the previous month.

The annual growth rate of total deposits stood at 6.8% from 4.5% in the previous month and the monthly net flow was positive at €1,491 million, compared with a negative net flow of €732 million in December 2017.

I. Credit to the domestic economy

Ι.1 Credit to the general government (1)

In January 2018, the monthly net flow of credit to the general government was negative at €412 million, compared with a positive net flow of €183 million in the previous month. The annual growth rate of credit to the general government stood at -6.7% from -6.5% in the previous month.

Ι.2 Credit to the private sector

In January 2018, the annual growth rate of credit to the private sector stood at -0.8%, unchanged from the previous month. The monthly net flow of credit to the private sector was negative at €787 million, compared with a positive net flow of €372 million in the previous month.

Ι.2.1 Credit to corporations

In January 2018, the monthly net flow of credit to corporations was negative at €512 million, compared with a positive net flow of €544 million in the previous month, while the annual growth rate of credit stood at 0.6% from 0.4% in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at 0.4%, unchanged from the previous month, while the monthly net flow of credit was negative at €413 million, against a positive net flow of €308 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at 2.9% from 1.5% in the previous month, while the monthly net flow was negative at €99 million, compared with a positive net flow of €236 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In January 2018, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at €33 million, compared with a negative net flow of €22 million in the previous month; the annual growth rate stood at -0.2%, unchanged from the previous month.

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

In January 2018, the monthly net flow of credit to individuals and private non-profit institutions was negative at €242 million, compared with a negative net flow of €151 million in the previous month; the annual growth rate stood at -2.3%, unchanged from the previous month.

II. Deposits (2) of the domestic economy to domestic credit institutions (3)

ΙΙ.1 Deposits of the general government

In January 2018, deposits of the general government increased by €2,893 million, compared with a decrease of €3,273 million in the previous month and the annual growth rate stood at 27.9% from 1.6% in the previous month.

ΙΙ.2 Deposits of the private sector

In January 2018, deposits of the private sector decreased by €1,402 million, compared with an increase of €2,541 million in the previous month, while the annual growth rate stood at 4.9% from 4.7% in the previous month.

ΙΙ.2.1 Corporate deposits

In January 2018, corporate deposits decreased by €341 million, compared with a decrease of €91 million in the previous month, while the annual growth rate stood at 11.4% from 10.0% in the previous month. In particular, deposits from non-financial corporations decreased by €814 million, against an increase of €477 million in the previous month, while deposits of insurance corporations and other financial intermediaries increased by €473 million, compared with a decrease of €568 million in the previous month.

ΙΙ.2.2 Deposits of households and private non-profit institutions

In January 2018, deposits of households and private non-profit institutions decreased by €1,061 million, compared with an increase of €2,632 million in the previous month, while the annual growth rate stood at 3.6%, unchanged from the previous month.

Note: The next Press Release on “Bank credit and deposits” for February 2018 will be published on 27 March 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.