Bank credit and deposits: January 2024
27/02/2024 - Press Releases
-The annual growth rate of total credit extended to the domestic economy stood at 1.9% in January 2024, compared with 2.5% in the previous month.
-The annual growth rate of total deposits stood at 2.7% in January 2024, compared with 2.3% in the previous month.
-Deposits placed by the private sector decreased by €5,238 million in January 2024, compared with an increase of €6,374 million in the previous month.
I. Credit to the domestic economy
Τhe monthly net flow of total credit was negative by €4,473 million in January 2024, compared with a positive net flow of €2,774 million in the previous month.
Ι.1 Credit to the general government
In January 2024, the monthly net flow of credit to the general government was negative by €1,739 million, compared with a negative net flow of €1,118 million in the previous month; the annual growth rate decreased to 0.1% compared with 0.7% in the previous month.
Ι.2 Credit to the private sector
In January 2024, the annual growth rate of credit to the private sector decreased to 3.0% from 3.6% in the previous month. The monthly net flow of credit was negative by €2,734 million, compared with a positive net flow of €3,893 million in the previous month.
Ι.2.1 Credit to corporations
In January 2024, the monthly net flow of credit to corporations was negative by €2,506 million, compared with a positive net flow of €3,801 million in the previous month; the annual growth rate decreased to 6.0% from 6.9% in the previous month. In particular, the annual growth rate of credit to non-financial corporations (NFCs) decreased to 5.0% from 5.8% in the previous month; the monthly net flow was negative by €2,008 million, compared with a positive net flow of €2,860 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries decreased to 14.3% from 15.9% in the previous month; the monthly net flow was negative by €498 million, compared with a positive net flow of €940 million in the previous month.
Ι.2.2 Credit to sole proprietors and unincorporated partnerships
In January 2024, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative by €79 million, compared with a positive net flow of €94 million in the previous month; the annual growth rate stood at -1.1% compared with -1.3% in the previous month.
Ι.2.3 Credit to individuals and private non-profit institutions
In January 2024, the monthly net flow of credit to individuals and private non-profit institutions was negative by €150 million, compared with a negative net flow of €2 million in the previous month; the annual growth rate stood at -1.9% compared with -2.0% in the previous month.
II. Deposits by the domestic economy with the domestic credit institutions
In January 2024, the monthly net flow of total deposits was negative by €3,702 million, compared with a positive net flow of €5,314 million in December 2023.
ΙΙ.1 Deposits placed by the general government
In January 2024, deposits placed by the general government increased by €1,536 million, compared with a decrease of €1,060 million in the previous month; the annual growth rate increased to 2.9% compared with -14.6% in the previous month.
ΙΙ.2 Deposits placed by the private sector
In January 2024, deposits placed by the private sector decreased by €5,238 million, compared with an increase of €6,374 million in the previous month; the annual growth rate decreased to 2.7% compared with 3.0% in the previous month.
ΙΙ.2.1 Corporate deposits
In January 2024, corporate deposits decreased by €3,167 million, compared with an increase of €3,291 million in the previous month; the annual growth rate remained unchanged at 1.6% compared to the previous month. In particular, deposits from NFCs decreased by €3,382 million, against an increase of €2,650 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €214 million, compared with an increase of €642 million in the previous month.
ΙΙ.2.2 Deposits placed by households and private non-profit institutions
In January 2024, deposits placed by households and private non-profit institutions decreased by €2,070 million, compared with an increase of €3,083 million in the previous month; the annual growth rate decreased to 3.1% compared with 3.5% in the previous month.
Notes:
1. The general government includes central government, local government and social security funds.
2. Deposits include repos.
3. The Bank of Greece is not included in domestic credit institutions.
Related information:
The next Press Release on “Bank credit and deposits” for February 2024 will be published on 28 March 2024, in accordance with the Advance release calendar, published on the Bank of Greece website.
Related links:
Credit Aggregates
Bank Deposits