Bank credit and deposits: February 2023
27/03/2023 - Press Releases
- The annual growth rate of total credit extended to the domestic economy stood at 5.5% in February 2023, compared with 6.3% in the previous month.
- The annual growth rate of total deposits stood at 2.7% in February 2023, compared with 3.2% in the previous month.
- Deposits placed by the private sector decreased by €1,456 million in February 2023, compared with a decrease of €4,510 million in the previous month.
I. Credit to the domestic economy
Τhe monthly net flow of total credit was negative by €580 million in February 2023, compared with a negative net flow of €3,284 million in the previous month.
Ι.1 Credit to the general government
In February 2023, the monthly net flow of credit to the general government was negative by €607 million, compared with a negative net flow of €1,263 million in the previous month; the annual growth rate decreased to 6.6% from 7.3% in the previous month.
Ι.2 Credit to the private sector
In February 2023, the annual growth rate of credit to the private sector decreased to 4.8% from 5.7% in the previous month. The monthly net flow of credit was positive by €27 million, compared with a negative net flow of €2,021 million in the previous month.
Ι.2.1 Credit to corporations
In February 2023, the monthly net flow of credit to corporations was positive by €150 million, compared with a negative net flow of €1,728 million in the previous month; the annual growth rate decreased to 9.8% from 11.3% in the previous month. In particular, the annual growth rate of credit to non-financial corporations (NFCs) decreased to 9.7% from 10.6% in the previous month; the monthly net flow was negative by €90 million, compared with a negative net flow of €1,405 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries decreased to 10.2% from 18.0% in the previous month; the monthly net flow was positive by €240 million, compared with a negative net flow of €323 million in the previous month.
Ι.2.2 Credit to sole proprietors and unincorporated partnerships
In February 2023, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative by €21 million, compared with a negative net flow of €89 million in the previous month; the annual growth rate stood at -2.0% from -1.4% in the previous month.
Ι.2.3 Credit to individuals and private non-profit institutions
In February 2023, the monthly net flow of credit to individuals and private non-profit institutions was negative by €103 million, compared with a negative net flow of €203 million in the previous month; the annual growth rate stood at -2.5% compared to -2.4% in the previous month.
II. Deposits by the domestic economy with the domestic credit institutions
In February 2023, the monthly net flow of total deposits was negative by €1,090 million, compared with a negative net flow of €4,376 million in January 2023.
ΙΙ.1 Deposits placed by the general government
In February 2023, deposits placed by the general government increased by €366 million, compared with an increase of €134 million in the previous month; the annual growth rate stood at -2.0%, compared with -3.5% in the previous month.
ΙΙ.2 Deposits placed by the private sector
In February 2023, deposits placed by the private sector decreased by €1,456 million, compared with a decrease of €4,510 million in the previous month; the annual growth rate decreased to 2.9% from 3.5% in the previous month.
ΙΙ.2.1 Corporate deposits
In February 2023, corporate deposits decreased by €1,255 million, compared with a decrease of €3,091 million in the previous month; the annual growth rate decreased to 0.5% from 2.9% in the previous month. In particular, deposits from NFCs decreased by €1,425 million, against a decrease of €3,396 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €171 million, compared with an increase of €305 million in the previous month.
ΙΙ.2.2 Deposits placed by households and private non-profit institutions
In February 2023, deposits placed by households and private non-profit institutions decreased by €202 million, compared with a decrease of €1,419 million in the previous month; the annual growth rate remained almost unchanged at 3.6% from 3.7% in the previous month.
Notes:
- The general government includes central government, local government and social security funds.
- Deposits include repos.
- The Bank of Greece is not included in domestic credit institutions.
Related information:
The next Press Release on “Bank credit and deposits” for March 2023 will be published on 2 May 2023, in accordance with the Advance release calendar, published on the Bank of Greece website.
Related links:
Credit Aggregates
Bank Deposits