Bank credit and deposits

Bank credit and deposits - June 2018

25/07/2018 - Press Releases

In June 2018, the annual growth rate of total credit extended to the economy stood at -2.4% from -3.2% in the previous month, while the monthly net flow was positive at €613 million, compared with a negative net flow of €831 million in the previous month.
The annual growth rate of total deposits stood at 10.0% from 10.1% in the previous month and the monthly net flow was positive at €884 million, compared with a positive net flow of €1,434 million in May 2018.

I. Credit to the domestic economy

Ι.1 Credit to the general government(1)
In June 2018, the monthly net flow of credit to the general government was negative at €443 million, compared with a negative net flow of €552 million in the previous month. The annual growth rate of credit to the general government stood at -9.7% from -11.6% in the previous month.

Ι.2 Credit to the private sector
In June 2018, the annual growth rate of credit to the private sector stood at -1.2% from -1.9% in the previous month. The monthly net flow of credit to the private sector was positive at €1,055 million, compared with a negative net flow of €279 million in the previous month.

Ι.2.1 Credit to corporations
In June 2018, the monthly net flow of credit to corporations was positive at €1,053 million, compared with a negative net flow of €169 million in the previous month; the annual growth rate stood at -0.4% from -1.6% in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at -0.7% from -1.9% in the previous month and the monthly net flow of credit was positive at €930 million, against a negative net flow of €135 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at 2.8% from 1.7% in the previous month and the monthly net flow was positive at €123 million, compared with a negative net flow of €34 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships
In June 2018, the monthly net flow of credit to sole proprietors and unincorporated partnerships was positive at €29 million, compared with a negative net flow of €6 million in the previous month; the annual growth rate stood at -1.4% from -1.5% in the previous month.

Ι.2.3 Credit to individuals and private non-profit institutions
In June 2018, the monthly net flow of credit to individuals and private non-profit institutions was negative at €27 million, compared with a negative net flow of €104 million in the previous month; the annual growth rate stood at -2.1% from -2.2% 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 June 2018, deposits placed by the general government decreased by €471 million, compared with an increase of €514 million in the previous month and the annual growth rate stood at 38.7% from 41.3% in the previous month.

ΙΙ.2 Deposits placed by the private sector
In June 2018, deposits placed by the private sector increased by €1,355 million, compared with an increase of €919 million in the previous month and the annual growth rate stood at 7.5% from 7.4% in the previous month.

ΙΙ.2.1 Corporate deposits
In June 2018, corporate deposits increased by €272 million, compared with an increase of €580 million in the previous month and the annual growth rate stood at 12.6% from 13.1% in the previous month. In particular, deposits from non-financial corporations increased by €826 million, against an increase of €747 million in the previous month, while deposits placed by insurance corporations and other financial intermediaries decreased by €554 million, in June 2018, compared with a decrease of €167 million in the previous month.

ΙΙ.2.2 Deposits placed by households and private non-profit institutions
In June 2018, deposits placed by households and private non-profit institutions increased by €1,084 million, compared with an increase of €339 million in the previous month and the annual growth rate stood at 6.5% from 6.2% in the previous month.

Note: The next Press Release on “Bank credit and deposits” for July 2018 will be published on 28 August 2018, 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.