Bank credit and deposits: October 2018

28/11/2018 - Press Releases

In October 2018, the annual growth rate of total credit extended to the economy stood at -1.9% from -1.8% in the previous month and the monthly net flow was positive at €320 million, compared with a positive net flow of €548 million in the previous month.

The annual growth rate of total deposits stood at 8.0% from 10.7% in the previous month, while the monthly net flow was positive at €399 million, compared with a positive net flow of €442 million in September 2018.

I. Credit to the domestic economy

Ι.1 Credit to the general government (1)

In October 2018, the monthly net flow of credit to the general government was positive at €1,294 million, compared with a negative net flow of €80 million in the previous month. The annual growth rate of credit to the general government stood at -4.9% from -5.6% in the previous month.

Ι.2 Credit to the private sector

In October 2018, the annual growth rate of credit to the private sector stood at -1.4% from -1.2% in the previous month. The monthly net flow of credit to the private sector was negative at €974 million, compared with a positive net flow of €628 million in the previous month.

Ι.2.1 Credit to corporations

In October 2018, the monthly net flow of credit to corporations was negative at €565 million, compared with a positive net flow of €713 million in the previous month; the annual growth rate stood at -0.7% from -0.4% in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at -0.6% from -0.3% in the previous month and the monthly net flow of credit was negative at €341 million, against a positive net flow of €573 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at -1.3% from -2.0% in the previous month, while the monthly net flow was negative at €223 million, compared with a positive net flow of €140 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In October 2018, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at €116 million, compared with a positive net flow of €4 million in the previous month; the annual growth rate stood at -1.9% from -1.5% in the previous month.

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

In October 2018, the monthly net flow of credit to individuals and private non-profit institutions was negative at €293 million, compared with a negative net flow of €89 million in the previous month; the annual growth rate stood at -2.1% from -2.0% 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 October 2018, deposits placed by the general government increased by €744 million, compared with an increase of €340 million in the previous month, while the annual growth rate stood at 24.4% from 48.9% in the previous month.

ΙΙ.2 Deposits placed by the private sector

In October 2018, deposits placed by the private sector decreased by €346 million, compared with an increase of €101 million in the previous month and the annual growth rate stood at 6.2% from 7.4% in the previous month.

ΙΙ.2.1 Corporate deposits

In October 2018, corporate deposits decreased by €289 million, compared with a decrease of €283 million in the previous month and the annual growth rate stood at 6.5% from 10.1% in the previous month. In particular, deposits from non-financial corporations decreased by €663 million, against an increase of €193 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €374 million, compared with a decrease of €476 million in the previous month.

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

In October 2018, deposits placed by households and private non-profit institutions decreased by €56 million, compared with an increase of €384 million in the previous month and the annual growth rate stood at 6.1% from 6.8% in the previous month.

Note: The next Press Release on “Bank credit and deposits” for November 2018 will be published on 3 January 2019, 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.