Bank credit and deposits: May 2018

27/06/2018 - Press Releases

In May 2018, the annual growth rate of total credit extended to the economy stood at -3.2% from -3.0% in the previous month, while the monthly net flow was negative at €831 million, compared with a negative net flow of €1,163 million in the previous month.

The annual growth rate of total deposits stood at 10.1% from 9.3% in the previous month and the monthly net flow was positive at €1,434 million, compared with a positive net flow of €755 million in April 2018.

I. Credit to the domestic economy

Ι.1 Credit to the general government (1)

In May 2018, the monthly net flow of credit to the general government was negative at €552 million, compared with a positive net flow of €4 million in the previous month. The annual growth rate of credit to the general government stood at -11.6% from -9.5% in the previous month.

Ι.2 Credit to the private sector

In May 2018, the annual growth rate of credit to the private sector stood at -1.9%, unchanged from the previous month. The monthly net flow of credit to the private sector was negative at €279 million, compared with a negative net flow of €1,167 million in the previous month.

Ι.2.1 Credit to corporations

In May 2018, the monthly net flow of credit to corporations was negative at €169 million, compared with a negative net flow of €1,010 million in the previous month; the annual growth rate stood at -1.6% from -1.8% in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at -1.9%, unchanged from the previous month and the monthly net flow of credit was negative at €135 million, against a negative net flow of €731 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at 1.7% from 0.4% in the previous month and the monthly net flow was negative at €34 million, compared with a negative net flow of €278 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In May 2018, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at €6 million, compared with a positive net flow of €6 million in the previous month; the annual growth rate stood at -1.5% from -0.9% in the previous month.

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

In May 2018, the monthly net flow of credit to individuals and private non-profit institutions was negative at €104 million, compared with a negative net flow of €164 million in the previous month; the annual growth rate stood at -2.2% from -2.3% 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 May 2018, deposits by the general government increased by €514 million, compared with a decrease of €115 million in the previous month and the annual growth rate stood at 41.3% from 32.8% in the previous month.

ΙΙ.2 Deposits placed by the private sector

In May 2018, deposits placed by the private sector increased by €919 million, compared with an increase of €870 million in the previous month and the annual growth rate stood at 7.4% from 7.2% in the previous month.

ΙΙ.2.1 Corporate deposits

In May 2018, corporate deposits increased by €580 million, compared with an increase of €866 million in the previous month and the annual growth rate stood at 13.1% from 14.9% in the previous month. In particular, deposits from non-financial corporations increased by €747 million, against an increase of €120 million in the previous month, while deposits placed by insurance corporations and other financial intermediaries decreased by €167 million, in May 2018, compared with an increase of €746 million in the previous month.

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

In May 2018, deposits placed by households and private non-profit institutions increased by €339 million, compared with an increase of €4 million in the previous month and the annual growth rate stood at 6.2% from 5.6% in the previous month.

Note: The next Press Release on “Bank credit and deposits” for June 2018 will be published on 25 July 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.