Bank credit and deposits: October 2023
28/11/2023 - Press Releases
- The annual growth rate of total credit extended to the domestic economy stood at 2.8% in October 2023, compared with 2.3% in the previous month.
- The annual growth rate of total deposits stood at 2.0% in October 2023, compared with 2.5% in the previous month.
- Deposits placed by the private sector decreased by €2,143 million in October 2023, compared with an increase of €2,229 million in the previous month.
I. Credit to the domestic economy
Τhe monthly net flow of total credit was positive by €349 million in October 2023, compared with a positive net flow of €3,167 million in the previous month.
Ι.1 Credit to the general government
In October 2023, the monthly net flow of credit to the general government was positive by €1,205 million, compared with a positive net flow of €1,026 million in the previous month; the annual growth rate increased to 3.9% compared with 2.6% in the previous month.
Ι.2 Credit to the private sector
In October 2023, the annual growth rate of credit to the private sector remained unchanged at 2.1% compared to the previous month. The monthly net flow of credit was negative by 856 million, compared with a positive net flow of €2,141 million in the previous month.
Ι.2.1 Credit to corporations
In October 2023, the monthly net flow of credit to corporations was negative by €669 million, compared with a positive net flow of €2,054 million in the previous month; the annual growth rate remained unchanged at 4.9% unchanged from the previous month. In particular, the annual growth rate of credit to non-financial corporations (NFCs) increased to 5.0% from 4.7% in the previous month; the monthly net flow was negative by €430 million, compared with a positive net flow of €2,213 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries decreased to 4.1% from 6.6% in the previous month; the monthly net flow was negative by €239 million, compared with a negative net flow of €160 million in the previous month.
Ι.2.2 Credit to sole proprietors and unincorporated partnerships
In October 2023, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative by €66 million, compared with a positive net flow of €52 million in the previous month; the annual growth rate stood at -3.0% compared with -3.3% in the previous month.
Ι.2.3 Credit to individuals and private non-profit institutions
In October 2023, the monthly net flow of credit to individuals and private non-profit institutions was negative by €121 million, compared with a positive net flow of €34 million in the previous month; the annual growth rate stood at -2.2% compared with -2.3% in the previous month.
II. Deposits by the domestic economy with the domestic credit institutions
In October 2023, the monthly net flow of total deposits was negative by €1,883 million, compared with a positive net flow of €916 million in September 2023.
ΙΙ.1 Deposits placed by the general government
In October 2023, deposits placed by the general government increased by €261 million, compared with a decrease of €1,312 million in the previous month; the annual growth rate stood at -9.1% compared with -15.2% in the previous month.
ΙΙ.2 Deposits placed by the private sector
In October 2023, deposits placed by the private sector decreased by €2,143 million, compared with an increase of €2,229 million in the previous month; the annual growth rate decreased to 2.5% compared with 3.4% in the previous month.
ΙΙ.2.1 Corporate deposits
In October 2023, corporate deposits decreased by €2,044 million, compared with an increase of €1,535 million in the previous month; the annual growth rate decreased to -0.4% from 2.6% in the previous month. In particular, deposits from NFCs decreased by €2,226 million, against an increase of €1,724 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €183 million, compared with a decrease of €189 million in the previous month.
ΙΙ.2.2 Deposits placed by households and private non-profit institutions
In October 2023, deposits placed by households and private non-profit institutions decreased by €100 million, compared with a decrease of €694 million in the previous month; the annual growth rate decreased to 3.5% 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 November 2023 will be published on 2 January 2024, in accordance with the Advance release calendar, published on the Bank of Greece website.
Related links:
Credit Aggregates
Bank Deposits