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Bank credit and deposits: February 2021

26/03/2021 - Press Releases

In February 2021, the annual growth rate of total credit extended to the domestic economy remained almost unchanged at 15.9% from 15.8% in the previous month, while the monthly net flow was positive by €441 million, compared with a positive net flow of €1,866 million in the previous month. The annual growth rate of total deposits remained also almost unchanged at 9.5% from 9.6% in the previous month; the monthly net flow was negative by €38 million, compared with a negative net flow of €1,942 million in January 2021.

 

  1. Credit to the domestic economy

     

    Ι.1 Credit to the general government[i]

    In February 2021, the monthly net flow of credit to the general government was positive by €135 million, compared with a positive net flow of €2,415 million in the previous month; the annual growth rate increased to 77.6% from 76.7% in the previous month.

     

    Ι.2 Credit to the private sector

    In February 2021, the annual growth rate of credit to the private sector remained unchanged at 3.7%. The monthly net flow of credit was positive by €306 million, compared with a negative net flow of €549 million in the previous month.

    Ι.2.1 Credit to corporations

    In February 2021, the monthly net flow of credit to corporations was positive by €407 million, compared with a negative net flow of €303 million in the previous month; the annual growth rate remained almost unchanged at 9.5% from 9.6% in the previous month. In particular, the annual growth rate of credit to non-financial corporations (NFCs) remained almost unchanged at 10.3% from 10.4% in the previous month; the monthly net flow was positive by €335 million, compared with a negative net flow of €10 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries decreased to 0.4% from 0.9% in the previous month; the monthly net flow was positive by €72 million, compared with a negative net flow of €293 million in the previous month.

     

    Ι.2.2 Credit to sole proprietors and unincorporated partnerships

    In February 2021, the monthly net flow of credit to sole proprietors and unincorporated partnerships was positive by €36 million, compared with a positive net flow of €2 million in the previous month; the annual growth rate increased to 3.1% from 2.8% in the previous month.

     

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

    In February 2021, the monthly net flow of credit to individuals and private non-profit institutions was negative by €136 million, compared with a negative net flow of €248 million in the previous month; the annual growth rate remained unchanged at -2.5%.

     

  2. Deposits[ii] by the domestic economy with the domestic credit institutions[iii]

 

ΙΙ.1 Deposits placed by the general government

In February 2021, deposits placed by the general government decreased by €779 million, compared with a decrease of €750 million in the previous month; the annual growth rate stood at -41.5% from -40.1% in the previous month.

 

ΙΙ.2        Deposits placed by the private sector

In February 2021, deposits placed by the private sector increased by €741 million, compared with a decrease of €1,192 million in the previous month; the annual growth rate decreased to 14.9% from 15.3% in the previous month.

 

ΙΙ.2.1 Corporate deposits

In February 2021, corporate deposits increased by €437 million, compared with a decrease of €1,863 million in the previous month; the annual growth rate decreased to 37.4% from 39.0% in the previous month. In particular, deposits from NFCs increased by €149 million, against a decrease of €1,891 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €288 million, compared with an increase of €28 million in the previous month.

 

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

In February 2021, deposits placed by households and private non-profit institutions increased by €304 million, compared with an increase of €671 million in the previous month; the annual growth rate decreased to 9.9% from 10.1% in the previous month.

 

Note: The next Press Release on “Bank credit and deposits” for March 2021 will be published on 29 April 2021, in accordance with the Advance release calendars, published on the Bank of Greece website (Credit Aggregates, Bank Deposits).



[i] The general government includes central government, local government and social security funds.

[ii] Including repos.

[iii] Excluding the Bank of Greece.

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