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Bank credit and deposits: March 2021

29/04/2021 - Press Releases

 

In March 2021, the annual growth rate of total credit extended to the domestic economy decreased to 15.6% from 15.9% in the previous month, while the monthly net flow was positive by €2,421 million, compared with a positive net flow of €415 million in the previous month.

The annual growth rate of total deposits decreased to 6.9% from 9.5% in the previous month; the monthly net flow was positive by €1,431 million, compared with a negative net flow of €38 million in February 2021.

 

  1. Credit to the domestic economy

     

    Ι.1 Credit to the general government[i]

    In March 2021, the monthly net flow of credit to the general government was positive by €2,018 million, compared with a positive net flow of €135 million in the previous month; the annual growth rate decreased to 73.1% from 77.6% in the previous month.

     

    Ι.2 Credit to the private sector

    In March 2021, the annual growth rate of credit to the private sector decreased to 2.9% from 3.7% in the previous month. The monthly net flow of credit was positive by €403 million, compared with a positive net flow of €281 million in the previous month.

    Ι.2.1 Credit to corporations

    In March 2021, the monthly net flow of credit to corporations was positive by €595 million, compared with a positive net flow of €392 million in the previous month; the annual growth rate decreased to 7.9% from 9.5% in the previous month. In particular, the annual growth rate of credit to non-financial corporations (NFCs) decreased to 8.7% from 10.3% in the previous month; the monthly net flow was positive by €413 million, compared with a positive net flow of €320 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries decreased to 0.0% from 0.4% in the previous month; the monthly net flow was positive by €182 million, compared with a positive net flow of €72 million in the previous month.

     

    Ι.2.2 Credit to sole proprietors and unincorporated partnerships

    In March 2021, the monthly net flow of credit to sole proprietors and unincorporated partnerships was positive by €34 million, compared with a positive net flow of €25 million in the previous month; the annual growth rate increased to 3.8% from 3.0% in the previous month.

     

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

    In March 2021, the monthly net flow of credit to individuals and private non-profit institutions was negative by €225 million, compared with a negative net flow of €136 million in the previous month; the annual growth rate stood at -2.7% from -2.5% in the previous month.

     

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

 

ΙΙ.1 Deposits placed by the general government

In March 2021, deposits placed by the general government decreased by €232 million, compared with a decrease of €779 million in the previous month; the annual growth rate stood at -50.6% compared with -41.5% in the previous month.

 

ΙΙ.2        Deposits placed by the private sector

In March 2021, deposits placed by the private sector increased by €1,663 million, compared with an increase of €741 million in the previous month; the annual growth rate decreased to 13.8% from 14.9% in the previous month.

 

ΙΙ.2.1 Corporate deposits

In March 2021, corporate deposits increased by €870 million, compared with an increase of €437 million in the previous month; the annual growth rate decreased to 19.8% from 37.4% in the previous month. In particular, deposits from NFCs increased by €1,695 million, against an increase of €149 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries decreased by €825 million, compared with an increase of €288 million in the previous month.

 

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

In March 2021, deposits placed by households and private non-profit institutions increased by €793 million, compared with an increase of €304 million in the previous month; the annual growth rate decreased to 9.3% from 9.9% in the previous month.

 

Note: The next Press Release on “Bank credit and deposits” for April 2021 will be published on 31 May 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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