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Bank credit to the domestic private sector: October 2012

28/11/2012 - Press Releases

The annual growth rate of total credit extended to the domestic private sector was more negative at -4.8% in October 2012, from -4.5% in September 2012. This development was, however, solely due to the financing of insurance corporations and is related to intra-group transactions of credit institutions with their subsidiaries. The net flow of total credit to the domestic private sector was negative, amounting to EUR 1,037 million (October 2011: negative net flow of EUR 510 million).

Credit to enterprises

The net flow of credit to enterprises in October 2012 was negative, amounting to EUR 605 million (October 2011: positive net flow of EUR 225 million), and the annual growth rate of credit was more negative at -5.6%, from -4.9% in the previous month. In particular, the annual growth rate of credit to non-financial corporations was less negative at -4.4% from -4.6% in the previous month, while the annual growth rate of credit to insurance corporations and other financial intermediaries was significantly more negative at -23.5% in October 2012, from -10.2% in September 2012.

Credit to sole proprietors and unincorporated partnerships

The net flow of credit to sole proprietors and unincorporated partnerships was negative, amounting to EUR 104 million (October 2011: negative net flow of EUR 180 million), and the annual rate of change of credit was less negative than in the previous month (October 2012: -3.6%, September 2012: -4.1%).

Credit to individuals and private non-profit institutions

In October 2012, the net flow of credit to individuals and private non-profit institutions was negative, amounting to EUR 328 million (October 2011: negative net flow of EUR 554 million), and the annual growth rate of credit to individuals and private non-profit institutions stood at -4.1% from -4.2% in September 2012.

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

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