Bank credit and deposits

Bank credit and deposits - February 2018

27/03/2018 - Press Releases

In February 2018, the annual growth rate of total credit extended to the economy stood at -1.8% from -1.6% in the previous month, while the monthly net flow was negative at €1,202 million, compared with a negative net flow of €1,237 million in the previous month.

The annual growth rate of total deposits stood at 7.7% from 6.8% in the previous month, while the monthly net flow was positive at €528 million, compared with a positive net flow of €1,491 million in January 2018.

I. Credit to the domestic economy

Ι.1 Credit to the general government (1)

In February 2018, the monthly net flow of credit to the general government was negative at €759 million, compared with a negative net flow of €412 million in the previous month. The annual growth rate of credit to the general government stood at -7.0% from -6.7% in the previous month.

Ι.2 Credit to the private sector

In February 2018, the annual growth rate of credit to the private sector stood at -1.0% from -0.8% in the previous month. The monthly net flow of credit to the private sector was negative at €443 million, compared with a negative net flow of €825 million in the previous month.

Ι.2.1 Credit to corporations

In February 2018, the monthly net flow of credit to corporations was negative at €233 million, compared with a negative net flow of €549 million in the previous month, while the annual growth rate of credit stood at 0.2% from 0.6% in the previous month. In particular, the annual growth rate of credit to non-financial corporations was zero from 0.4% in the previous month, while the monthly net flow of credit was negative at €276 million, against a negative net flow of €450 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at 2.6% from 2.9% in the previous month, while the monthly net flow was positive at €43 million, compared with a negative net flow of €99 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In February 2018, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at €36 million, compared with a negative net flow of €33 million in the previous month; the annual growth rate stood at -0.3% from -0.2% in the previous month.

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

In February 2018, the monthly net flow of credit to individuals and private non-profit institutions was negative at €173 million, compared with a negative net flow of €243 million in the previous month; the annual growth rate stood at -2.4% from -2.3% 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 February 2018, deposits by the general government increased by €469 million, compared with an increase of €2,892 million in the previous month, while the annual growth rate stood at 30.3% from 27.8% in the previous month.

ΙΙ.2 Deposits placed by the private sector

In February 2018, deposits placed by the private sector increased by €59 million, compared with a decrease of €1,401 million in the previous month and the annual growth rate stood at 5.6% from 4.9% in the previous month.

ΙΙ.2.1 Corporate deposits

In February 2018, corporate deposits decreased by €447 million, compared with a decrease of €341 million in the previous month and the annual growth rate stood at 9.8% from 11.4% in the previous month. In particular, deposits from non-financial corporations decreased by €609 million, against a decrease of €814 million in the previous month, while deposits placed by insurance corporations and other financial intermediaries increased by €162 million, compared with an increase of €473 million in the previous month.

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

In February 2018, deposits placed by households and private non-profit institutions increased by €505 million, compared with a decrease of €1,060 million in the previous month and the annual growth rate stood at 4.8% from 3.6% in the previous month.

Note: The next Press Release on “Bank credit and deposits” for March 2018 will be published on 30 April 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.