Bank credit and deposits: July 2018

In July 2018, the annual growth rate of total credit extended to the economy stood at -2.5% from -2.4% in the previous month and the monthly net flow was negative at €856 million, compared with a positive net flow of €612 million in the previous month.

The annual growth rate of total deposits stood at 10.1% from 10.0% in the previous month and the monthly net flow was positive at €1,128 million, compared with a positive net flow of €887 million in June 2018.

I. Credit to the domestic economy

Ι.1 Credit to the general government (1)
In July 2018, the monthly net flow of credit to the general government was positive at €143 million, compared with a negative net flow of €443 million in the previous month. The annual growth rate of credit to the general government stood at -8.4% from -9.7% in the previous month.

Ι.2 Credit to the private sector
In July 2018, the annual growth rate of credit to the private sector stood at -1.5% from -1.2% in the previous month. The monthly net flow of credit to the private sector was negative at €998 million, compared with a positive net flow of €1,055 million in the previous month.

Ι.2.1 Credit to corporations
In July 2018, the monthly net flow of credit to corporations was negative at €846 million, compared with a positive net flow of €1,053 million in the previous month; the annual growth rate stood at -1.0% from -0.4% in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at -0.9% from -0.7% in the previous month and the monthly net flow of credit was negative at €745 million, against a positive net flow of €929 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at -2.6% from 2.8% in the previous month and the monthly net flow was negative at €102 million, compared with a positive net flow of €123 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships
In July 2018, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at €17 million, compared with a positive net flow of €29 million in the previous month; the annual growth rate stood at -1.5% from -1.4% in the previous month.

Ι.2.3 Credit to individuals and private non-profit institutions
In July 2018, the monthly net flow of credit to individuals and private non-profit institutions was negative at €135 million, compared with a negative net flow of €27 million in the previous month; the annual growth rate stood at -2.1%, unchanged from 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 July 2018, deposits placed by the general government increased by €287 million, compared with a decrease of €471 million in the previous month and the annual growth rate stood at 41.3% from 38.7% in the previous month.

ΙΙ.2 Deposits placed by the private sector
In July 2018, deposits placed by the private sector increased by €841 million, compared with an increase of €1,358 million in the previous month and the annual growth rate stood at 7.4% from 7.5% in the previous month.

ΙΙ.2.1 Corporate deposits
In July 2018, corporate deposits increased by €301 million, compared with an increase of €272 million in the previous month, while the annual growth rate stood at 11.4% from 12.6% in the previous month. In particular, deposits from non-financial corporations decreased by €54 million, against an increase of €826 million in the previous month, while deposits placed by insurance corporations and other financial intermediaries increased by €354 million, in July 2018, compared with a decrease of €554 million in the previous month.

ΙΙ.2.2 Deposits placed by households and private non-profit institutions
In July 2018, deposits placed by households and private non-profit institutions increased by €540 million, compared with an increase of €1,086 million in the previous month and the annual growth rate stood at 6.6% from 6.5% in the previous month.

Note: The next Press Release on 'Bank credit and deposits' for August 2018 will be published on 27 September 2018, in accordance with the Advance release calendar, published on the Bank of Greece website.

Related link: Bank credit and deposits - July 2018 - Table

(1)The general government includes central government, local government and social security funds. (2)Including repos.
(3)Excluding the Bank of Greece.