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Bank credit to the domestic private sector: December 2012

28/01/2013 - Press Releases

The annual growth rate of total credit extended to the domestic private sector was less negative for a second consecutive month at -4.0% in December 2012, from -4.6% in November 2012 and -4.8% in October 2012. The net flow of total credit to the domestic private sector was negative, amounting to EUR 152 million (December 2011: negative net flow of EUR 1,701 million).

Credit to enterprises

The net flow of credit to enterprises, in December 2012, was negative, amounting to EUR 25 million (December 2011: negative net flow of EUR 1,377 million), and the annual growth rate of credit was less negative at -4.3%, from -5.4% in the previous month (1) . In particular, the annual growth rate of credit to non-financial corporations was less negative at -3.3% from -4.1% in the previous month, while the net flow of credit was positive and equal to EUR 204 million (December 2011: negative net flow of EUR 767 million). The annual growth rate of credit to insurance corporations and other financial intermediaries was less negative at -20.9% in December, from -24.2% in November 2012.

Credit to sole proprietors and unincorporated partnerships

The net flow of credit to sole proprietors and unincorporated partnerships was negative, amounting to EUR 42 million in December 2012 (December 2011: zero net flow) and the annual rate of change of credit was more negative at -3.1% in December 2012, from -2.8% in November 2012.

Credit to individuals and private non-profit institutions

In December 2012, the net flow of credit to individuals and private non-profit institutions was negative, amounting to EUR 85 million (December 2011: negative net flow of EUR 324 million), and the annual growth rate of credit to individuals and private non-profit institutions stood at -3.8% from -3.9% in November 2012.

Related link: Bank credit to the domestic private sector: December 2012 - Table

(1) The outstanding amount of credit, at the end of December 2012, decreased by an additional EUR 1.9 billion, due to loan transfers to non-domestic credit institutions, loan write-offs, and foreign exchange valuation differences. Net flows and growth rates are corrected for loan transfers, write-offs, and exchange rate variations and are not influenced by them.

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