Bank credit and deposits: January 2023
28/02/2023 - Press Releases
- The annual growth rate of total credit extended to the domestic economy stood at 6.3% in January 2023, compared with 9.1% in the previous month.
- The annual growth rate of total deposits stood at 3.2% in January 2023, compared with 4.5% in the previous month.
- Deposits placed by the private sector decreased by €4,510 million in January 2023, compared with an increase of €5,003 million in the previous month.
I. Credit to the domestic economy
Τhe monthly net flow of total credit was negative by €3,284 million in January 2023, compared with a positive net flow of €3,491 million in the previous month.
Ι.1 Credit to the general government
In January 2023, the monthly net flow of credit to the general government was negative by €1,263 million, compared with a positive net flow of €652 million in the previous month; the annual growth rate decreased to 7.3% from 13.5% in the previous month.
Ι.2 Credit to the private sector
In January 2023, the annual growth rate of credit to the private sector decreased to 5.7% from 6.3% in the previous month. The monthly net flow of credit was negative by €2,021 million, compared with a positive net flow of €2,838 million in the previous month.
Ι.2.1 Credit to corporations
In January 2023, the monthly net flow of credit to corporations was negative by €1,728 million, compared with a positive net flow of €2,949 million in the previous month; the annual growth rate decreased to 11.3% from 12.3% in the previous month. In particular, the annual growth rate of credit to non-financial corporations (NFCs) decreased to 10.6% from 11.8% in the previous month; the monthly net flow was negative by €1,405 million, compared with a positive net flow of €2,301 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries increased to 18.0% from 16.6% in the previous month; the monthly net flow was negative by €323 million, compared with a positive net flow of €647 million in the previous month.
Ι.2.2 Credit to sole proprietors and unincorporated partnerships
In January 2023, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative by €89 million, compared with a positive net flow of €22 million in the previous month; the annual growth rate stood at -1.4% from -0.9% in the previous month.
Ι.2.3 Credit to individuals and private non-profit institutions
In January 2023, the monthly net flow of credit to individuals and private non-profit institutions was negative by €203 million, compared with a negative net flow of €132 million in the previous month; the annual growth rate stood at -2.4% compared to -2.5% in the previous month.
II. Deposits by the domestic economy with the domestic credit institutions
In January 2023, the monthly net flow of total deposits was negative by €4,376 million, compared with a positive net flow of €4,389 million in December 2022.
ΙΙ.1 Deposits placed by the general government
In January 2023, deposits placed by the general government increased by €134 million, compared with a decrease of €614 million in the previous month; the annual growth rate stood at -3.5%, compared with -1.9% in the previous month.
ΙΙ.2 Deposits placed by the private sector
In January 2023, deposits placed by the private sector decreased by €4,510 million, compared with an increase of €5,003 million in the previous month; the annual growth rate decreased to 3.5% from 4.8% in the previous month.
ΙΙ.2.1 Corporate deposits
In January 2023, corporate deposits decreased by €3,091 million, compared with an increase of €1,790 million in the previous month; the annual growth rate decreased to 2.9% from 5.8% in the previous month. In particular, deposits from NFCs decreased by €3,396 million, against an increase of €2,620 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €305 million, compared with a decrease of €830 million in the previous month.
ΙΙ.2.2 Deposits placed by households and private non-profit institutions
In January 2023, deposits placed by households and private non-profit institutions decreased by €1,419 million, compared with an increase of €3,213 million in the previous month; the annual growth rate decreased to 3.7% from 4.4% in the previous month.
Notes:
- The general government includes central government, local government and social security funds.
- Deposits include repos.
- The Bank of Greece is not included in domestic credit institutions.
Related information:
The next Press Release on “Bank credit and deposits” for February 2023 will be published on 27 March 2023, in accordance with the Advance release calendar, published on the Bank of Greece website.
Related links:
Credit Aggregates
Bank Deposits