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Bank credit and deposits: January 2020

27/02/2020 - Press Releases

In January 2020, the annual growth rate of total credit extended to the domestic economy stood at -1.6% from -1.3% in the previous month and the monthly net flow was negative at €1,974 million, compared with a positive net flow of €631 million in the previous month.

The annual growth rate of total deposits stood at 4.5% from 4.6% in the previous month and the monthly net flow was negative at €2,006 million, compared with a positive net flow of €5,169 million in December 2019.

1. Credit to the domestic economy

Ι.1 Credit to the general government[1]

In January 2020, the monthly net flow of credit to the general government was negative at €1,166 million, compared with a positive net flow of €371 million in the previous month; the annual growth rate stood at -6.8% from -5.5% in the previous month.

Ι.2 Credit to the private sector

In January 2020, the annual growth rate of credit to the private sector stood at     -0.6%, unchanged from the previous month. The monthly net flow of credit to the private sector was negative at €807 million, compared with a positive net flow of €260 million in the previous month.

Ι.2.1 Credit to corporations

In January 2020, the monthly net flow of credit to corporations was negative at €476 million, compared with a positive net flow of €407 million in the previous month; the annual growth rate stood at 1.7% compared with 1.8% in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at 1.6% compared with 1.7% in the previous month and the monthly net flow was negative at €349 million, against a positive net flow of €430 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries increased to 3.2% from 2.1% in the previous month whereas the monthly net flow was negative at €127 million, compared with a negative net flow of €23 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In January 2020, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at €90 million, compared with a positive net flow of €14 million in the previous month; the annual growth rate stood at -2.4% from       -1.9% in the previous month.

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

In January 2020, the monthly net flow of credit to individuals and private non-profit institutions was negative at €242 million, compared with a negative net flow of €160 million in the previous month; the annual growth rate stood at -2.9%, unchanged from the previous month.

 

2. Deposits[2] by the domestic economy with the domestic credit institutions[3]

ΙΙ.1 Deposits placed by the general government

In January 2020, deposits placed by the general government increased by €157 million, compared with an increase of €1,521 million in the previous month and the annual growth rate stood at -9.1% from -11.1% in the previous month.

ΙΙ.2 Deposits placed by the private sector

In January 2020, deposits placed by the private sector decreased by €2,163 million, compared with an increase of €3,648 million in the previous month and the annual growth rate decreased to 6.3% from 6.7% in the previous month.

ΙΙ.2.1 Corporate deposits

In January 2020, corporate deposits decreased by €1,196 million, compared with an increase of €1,801 million in the previous month and the annual growth rate decreased to 9.4% from 9.8% in the previous month. In particular, deposits from non-financial corporations decreased by €1,586 million, against an increase of €2,322 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €390 million, compared with a decrease of €521 million in the previous month.

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

In January 2020, deposits placed by households and private non-profit institutions decreased by €967 million, compared with an increase of €1,847 million in the previous month; the annual growth rate decreased to 5.6% from 6.0% in the previous month.

 

Note: The next Press Release on “Bank credit and deposits” for February 2020 will be published on 26 March 2020, in accordance with the Advance release calendars, published on the Bank of Greece website (Credit Aggregates, Bank Deposits).
 

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

[2] Including repos.

[3] Excluding the Bank of Greece.

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