Bank credit to the domestic private sector : January 2013
27/02/2013 - Press Releases
The annual growth rate of total credit extended to the domestic private sector remained unchanged at -4.0% in January 2013. The net flow of total credit to the domestic private sector was negative, amounting to EUR 296 million (January 2012: negative net flow of EUR 407 million).
Credit to enterprises
The net flow of credit to enterprises, in January 2013, was positive, amounting to EUR 96 million (January 2012: positive net flow of EUR 206 million), and the annual growth rate of credit remained unchanged at -4.4%. In particular, the annual growth rate of credit to non-financial corporations was less negative at -2.6% from -3.3% in the previous month, while the net flow of credit was positive and equal to EUR 164 million (January 2012: negative net flow of EUR 656 million). The annual growth rate of credit to insurance corporations and other financial intermediaries was more negative at -25.9% in January 2013, from -20.9% in December 2012.
Credit to sole proprietors and unincorporated partnerships
The net flow of credit to sole proprietors and unincorporated partnerships was zero in January 2013 (January 2012: negative net flow of EUR 96 million) and its annual rate of change was less negative at -2.4%, from -3.0% in December 2012.
Credit to individuals and private non-profit institutions
In January 2013, the net flow of credit to individuals and private non-profit institutions was negative, amounting to EUR 392 million (January 2012: negative net flow of EUR 516 million), and its annual growth rate stood at -3.7%, compared with -3.8% in December 2012.
Related link: Bank credit to the domestic private sector : January 2013 - Table
(1) Note, however, that the outstanding amount of credit, at the end of January 2013, decreased by an additional EUR 1.8 billion, because of the resolution of the Hellenic Postbank, loan write-offs, and foreign exchange valuation differences. Net flows and growth rates of credit are corrected for changes in outstanding amounts due to the above factors and are not influenced by them.