Bank credit and deposits: October 2017

28/11/2017 - Press Releases

In October 2017, the annual growth rate of total credit extended to the economy stood at -1.5%, unchanged from the previous month, while the monthly net flow was positive at €540 million, compared with a negative net flow of €552 million in the previous month.

The annual growth rate of total deposits stood at 6.6% from 4.7% in the previous month and the monthly net flow was positive at €3,718 million, compared with a positive net flow of €36 million in September 2017.

I. Credit to the domestic economy

Ι.1 Credit to the general government (1)

In October 2017, the monthly net flow of credit to the general government was positive at €1,153 million, compared with a negative net flow of €545 million in the previous month. The annual growth rate of credit to the general government stood at -4.9% from -5.2% in the previous month.

Ι.2 Credit to the private sector

In October 2017, the annual growth rate of credit to the private sector stood at -0.9% from -0.8% in the previous month. The monthly net flow of credit to the private sector was negative at €614 million, compared with a negative net flow of €7 million in the previous month.

Ι.2.1 Credit to corporations

In October 2017, the monthly net flow of credit to corporations was negative at €351 million, compared with a positive net flow of €113 million in the previous month and the annual growth rate of credit stood at 0.2% from 0.4% in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at 0.0% from 0.1% in the previous month and the monthly net flow of credit was negative at €75 million, against a positive net flow of €62 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at 4.0% in October 2017 from 4.7% in the previous month, while the monthly net flow was negative at €276 million, compared with a positive net flow of €52 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In October 2017, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at €65 million, compared with a positive net flow of €13 million in the previous month; the annual growth rate stood at 0.0% from 0.2% in the previous month.

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

In October 2017, the monthly net flow of credit to individuals and private non-profit institutions was negative at €197 million, compared with a negative net flow of €133 million in the previous month; the annual growth rate stood at -2.3% from -2.2% in the previous month.

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

ΙΙ.1 Deposits of the general government

In October 2017, deposits of the general government increased by €2,681 million, compared with an increase of €83 million in the previous month and the annual growth rate stood at 30.5% from 6.2% in the previous month.

ΙΙ.2 Deposits of the private sector

In October 2017, deposits of the private sector increased by €1,037 million, compared with a decrease of €47 million in the previous month and the annual growth rate stood at 4.6%, unchanged from the previous month.

ΙΙ.2.1 Corporate deposits

In October 2017, corporate deposits increased by €452 million, compared with a decrease of €237 million in the previous month and the annual growth rate stood at 13.9% from 13.8% in the previous month. In particular, deposits from non-financial corporations decreased by €85 million, against an increase of €420 million in the previous month, while deposits of insurance corporations and other financial intermediaries increased by €537 million in October 2017, compared with a decrease of €657 million in the previous month.

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

In October 2017, deposits of households and private non-profit institutions increased by €585 million, compared with an increase of €190 million in the previous month, while the annual growth rate stood at 2.6% from 2.7% in the previous month.

Note: The next Press Release on “Bank credit and deposits” for November 2017 will be published on 29 December 2017.

(1) The general government includes central government, local government and social security funds.
(2) Including repos.
(3) Excluding the Bank of Greece.