Bank credit and deposits: March 2024
26/04/2024 - Press Releases
- The annual growth rate of total credit extended to the domestic economy stood at 3.0% in March 2024, compared with 3.1% in the previous month.
- The annual growth rate of total deposits stood at 1.3% in March 2024, compared with 2.4% in the previous month.
- Deposits placed by the private sector increased by €1,675 million in March 2024, compared with a decrease of €1,067 million in the previous month.
I. Credit to the domestic economy
Τhe monthly net flow of total credit was positive by €1,514 million in March 2024, compared with a positive net flow of €1,666 million in the previous month.
Ι.1 Credit to the general government
In March 2024, the monthly net flow of credit to the general government was negative by €469 million, compared with a positive net flow of €762 million in the previous month; the annual growth rate decreased to 0.7% compared with 1.9% in the previous month.
Ι.2 Credit to the private sector
In March 2024, the annual growth rate of credit to the private sector increased to 4.5% from 3.8% in the previous month. The monthly net flow of credit was positive by €1,983 million, compared with a positive net flow of €904 million in the previous month.
Ι.2.1 Credit to corporations
In March 2024, the monthly net flow of credit to corporations was positive by €1,913 million, compared with a positive net flow of €924 million in the previous month; the annual growth rate increased to 8.0% from 7.1% in the previous month. In particular, the annual growth rate of credit to non-financial corporations (NFCs) increased to 6.6% from 6.2% in the previous month; the monthly net flow was positive by €1,613 million, compared with a positive net flow of €673 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries increased to 19.2% from 14.0% in the previous month; the monthly net flow was positive by €300 million, compared with a positive net flow of €251 million in the previous month.
Ι.2.2 Credit to sole proprietors and unincorporated partnerships
In March 2024, the monthly net flow of credit to sole proprietors and unincorporated partnerships was positive by €49 million, compared with a positive net flow of €1 million in the previous month; the annual growth rate remained unchanged at -0.6% compared to the previous month.
Ι.2.3 Credit to individuals and private non-profit institutions
In March 2024, the monthly net flow of credit to individuals and private non-profit institutions was positive by €21 million, compared with a negative net flow of €20 million in the previous month; the annual growth rate stood at -1.4% compared with -1.7% in the previous month.
II. Deposits by the domestic economy with the domestic credit institutions
In March 2024, the monthly net flow of total deposits was positive by €957 million, compared with a negative net flow of €1,803 million in February 2024.
ΙΙ.1 Deposits placed by the general government
In March 2024, deposits placed by the general government decreased by €718 million, compared with a decrease of €737 million in the previous month; the annual growth rate stood at -24.5% compared with -10.2% in the previous month.
ΙΙ.2 Deposits placed by the private sector
In March 2024, deposits placed by the private sector increased by €1,675 million, compared with a decrease of €1,067 million in the previous month; the annual growth rate decreased to 2.6% compared with 3.0% in the previous month.
ΙΙ.2.1 Corporate deposits
In March 2024, corporate deposits increased by €1,278 million, compared with a decrease of €911 million in the previous month; the annual growth rate decreased to 1.6% compared with 2.4% in the previous month. In particular, deposits from NFCs increased by €1,507 million, against a decrease of €536 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries decreased by €229 million, compared with a decrease of €374 million in the previous month.
ΙΙ.2.2 Deposits placed by households and private non-profit institutions
In March 2024, deposits placed by households and private non-profit institutions increased by €396 million, compared with a decrease of €156 million in the previous month; the annual growth rate decreased to 2.9% compared with 3.1% in the previous month.
Notes:
1. The general government includes central government, local government and social security funds.
2. Deposits include repos.
3. The Bank of Greece is not included in domestic credit institutions.
Related information:
The next Press Release on “Bank credit and deposits” for April 2024 will be published on 29 May 2024, in accordance with the Advance release calendar, published on the Bank of Greece website.
Related links:
Credit Aggregates
Bank Deposits