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Bank credit to the domestic private sector: January 2011

04/03/2011 - Press Releases

The annual growth rate of total credit granted to the domestic private sector slightly decelerated further to -0.3% in January 2011, from -0.1% in December 2010 and 4.1% in December 2009. Marginal decrease of the annual growth rate of credit to all the sectors was recorded, i.e to enterprises, to sole proprietors and to individuals and private non-profit institutions.

Credit to enterprises

The net flow of credit to enterprises in January 2011 was positive, amounting to €157 million (January 2010: positive net flow of €334 million) and the annual growth rate of credit stood at 0.8% (December 2010: 0.9%, December 2009: 5.1%).

The analysis of credit to enterprises by branch of economic activity shows that in January 2011, there was an increase in the annual growth rate of credit to the branches of industry (January 2011: -1.7%, December 2010: -2.7%, December 2009: -3,5%) however remaining at negative level, shipping (January 2011: 7.2%, December 2010: 5.7%, December 2009: 4.1%) and to the “remaining” branches (January 2011: 3.9%, December 2010: 3.6%, December 2009: 10.3%). On the contrary, deceleration was recorded in the annual growth rate of credit to trade (January 2011: -3.9%, December 2010: -3.5%, December 2009: 4.2%), to construction (January 2011: 0.7%, December 2010: 1.9%, December 2009: 2.7%) and to all other branches.


Credit to sole proprietors

The net flow of loans to sole proprietors (professionals, farmers and unincorporated businesses) was positive, amounting to €6 million in January 2011, and its annual rate of change decreased slightly in comparison with the previous month (January 2011: 0.1%, December 2010: 0.2%).

Credit to individuals & private non-profit institutions

The net flow of credit to individuals and private non-profit institutions in January 2011 was negative, amounting to minus €315 million (January 2010: negative net flow of €127 million). As a result, the annual growth rate of credit to individuals and private non-profit institutions slightly decreased (January 2011: -1.4%, December 2010: -1.3%, December 2009: 3.1%).

More specifically, the net flow of housing loans was negative, amounting to minus €170 million in January 2011 (January 2010: positive net flow of €71 million) and its annual growth rate decelerated further (January 2011: -0.7%, December 2010: -0.4%, December 2009: 3.7%).

Consumer credit recorded a negative net flow of €98 million (January 2010: negative net flow of €144 million) and its annual growth rate slightly increased in comparison with the previous month remaining however at negative level (January 2010: -4.1%, December 2010: -4.2%, December 2009: 2.0%).

Finally, the net flow of “other loans” to individuals and private non-profit institutions was negative, amounting to €47 million in January 2011 (January 2010: negative net flow of €54 million), and its annual rate of change stood at 11.1% compared with 10.7% in December 2010 (December 2009: -1.1%).

Bank credit to the domestic private sector: January 2011 - Table


 

 

 

 

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