Bank credit and deposits: May 2023
28/06/2023 - Press Releases
- The annual growth rate of total credit extended to the domestic economy stood at 3.8% in May 2023, compared with 4.7% in the previous month.
- The annual growth rate of total deposits stood at 3.3% in May 2023, compared with 3.6% in the previous month.
- Deposits placed by the private sector increased by €794 million in May 2023, compared with a decrease of €15 million in the previous month.
I. Credit to the domestic economy
Τhe monthly net flow of total credit was positive by €405 million in May 2023, compared with a negative net flow of €22 million in the previous month.
Ι.1 Credit to the general government
In May 2023, the monthly net flow of credit to the general government was positive by €680 million, compared with a positive net flow of €767 million in the previous month; the annual growth rate decreased to 4.8% from 6.0% in the previous month.
Ι.2 Credit to the private sector
In May 2023, the annual growth rate of credit to the private sector decreased to 3.1% from 3.9% in the previous month. The monthly net flow of credit was negative by €275 million, compared with a negative net flow of €789 million in the previous month.
Ι.2.1 Credit to corporations
In May 2023, the monthly net flow of credit to corporations was negative by €170 million, compared with a negative net flow of €582 million in the previous month; the annual growth rate decreased to 7.0% from 8.2% in the previous month. In particular, the annual growth rate of credit to non-financial corporations (NFCs) decreased to 6.7% from 8.7% in the previous month; the monthly net flow was negative by €335 million, compared with a negative net flow of €441 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries increased to 9.6% from 4.6% in the previous month; the monthly net flow was positive by €164 million, compared with a negative net flow of €141 million in the previous month.
Ι.2.2 Credit to sole proprietors and unincorporated partnerships
In May 2023, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative by €24 million, compared with a negative net flow of €51 million in the previous month; the annual growth rate stood at -2.8% compared with -1.9% in the previous month.
Ι.2.3 Credit to individuals and private non-profit institutions
In May 2023, the monthly net flow of credit to individuals and private non-profit institutions was negative by €80 million, compared with a negative net flow of €156 million in the previous month; the annual growth rate stood at -2.8% compared with -2.7% in the previous month.
II. Deposits by the domestic economy with the domestic credit institutions
In May 2023, the monthly net flow of total deposits was positive by €790 million, compared with a positive net flow of €41 million in April 2023.
ΙΙ.1 Deposits placed by the general government
In May 2023, deposits placed by the general government decreased by €3 million, compared with an increase of €57 million in the previous month; the annual growth rate increased to 2.3% from 1.7% in the previous month.
ΙΙ.2 Deposits placed by the private sector
In May 2023, deposits placed by the private sector increased by €794 million, compared with a decrease of €15 million in the previous month; the annual growth rate decreased to 3.3% from 3.7% in the previous month.
ΙΙ.2.1 Corporate deposits
In May 2023, corporate deposits increased by €1,118 million, compared with a decrease of €1,145 million in the previous month; the annual growth rate decreased to 2.3% from 3.6% in the previous month. In particular, deposits from NFCs increased by €752 million, against a decrease of €1,154 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €365 million, compared with an increase of €9 million in the previous month.
ΙΙ.2.2 Deposits placed by households and private non-profit institutions
In May 2023, deposits placed by households and private non-profit institutions decreased by €324 million, compared with an increase of €1,129 million in the previous month; the annual growth rate remained unchanged at 3.7% compared to 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 June 2023 will be published on 26 July 2023, in accordance with the Advance release calendar, published on the Bank of Greece website.
Related links:
Credit Aggregates
Bank Deposits