Bank credit and deposits: February 2024

28/03/2024 - Press Releases

- The annual growth rate of total credit extended to the domestic economy stood at 3.1% in February 2024, compared with 1.9% in the previous month.

- The annual growth rate of total deposits stood at 2.4% in February 2024, compared with 2.7% in the previous month.

- Deposits placed by the private sector decreased by €1,068 million in February 2024, compared with a decrease of €5,238 million in the previous month.

I. Credit to the domestic economy

Τhe monthly net flow of total credit was positive by €1,618 million in February 2024, compared with a negative net flow of €4,471 million in the previous month.

Ι.1 Credit to the general government

In February 2024, the monthly net flow of credit to the general government was positive by €769 million, compared with a negative net flow of €1,739 million in the previous month; the annual growth rate increased to 2.0% compared with 0.1% in the previous month.

Ι.2 Credit to the private sector

In February 2024, the annual growth rate of credit to the private sector increased to 3.8% from 3.0% in the previous month. The monthly net flow of credit was positive by €849 million, compared with a negative net flow of €2,732 million in the previous month.

Ι.2.1 Credit to corporations

In February 2024, the monthly net flow of credit to corporations was positive by €924 million, compared with a negative net flow of €2,504 million in the previous month; the annual growth rate increased to 7.1% from 6.0% in the previous month. In particular, the annual growth rate of credit to non-financial corporations (NFCs) increased to 6.1% from 5.0% in the previous month; the monthly net flow was positive by €599 million, compared with a negative net flow of €2,008 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries increased to 14.9% from 14.3% in the previous month; the monthly net flow was positive by €325 million, compared with a negative net flow of €496 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In February 2024, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative by €2 million, compared with a negative net flow of €79 million in the previous month; the annual growth rate stood at -0.7% compared with -1.1% in the previous month.

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

In February 2024, the monthly net flow of credit to individuals and private non-profit institutions was negative by €73 million, compared with a negative net flow of €150 million in the previous month; the annual growth rate stood at -1.8% compared with -1.9% in the previous month.

II. Deposits by the domestic economy with the domestic credit institutions

In February 2024, the monthly net flow of total deposits was negative by €1,804 million, compared with a negative net flow of €3,702 million in January 2024.

ΙΙ.1 Deposits placed by the general government

In February 2024, deposits placed by the general government decreased by €737 million, compared with an increase of €1,536 million in the previous month; the annual growth rate decreased to -10.2% compared with 2.9% in the previous month.

ΙΙ.2 Deposits placed by the private sector

In February 2024, deposits placed by the private sector decreased by €1,068 million, compared with a decrease of €5,238 million in the previous month; the annual growth rate increased to 3.0% compared with 2.7% in the previous month.

ΙΙ.2.1 Corporate deposits

In February 2024, corporate deposits decreased by €912 million, compared with a decrease of €3,167 million in the previous month; the annual growth rate increased to 2.4% compared with 1.6% in the previous month. In particular, deposits from NFCs decreased by €537 million, against a decrease of €3,377 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries decreased by €374 million, compared with an increase of €210 million in the previous month.

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

In February 2024, deposits placed by households and private non-profit institutions decreased by €156 million, compared with a decrease of €2,070 million in the previous month; the annual growth rate remained unchanged at 3.1% compared to 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 March 2024 will be published on 26 April 2024, in accordance with the Advance release calendar, published on the Bank of Greece website.

Related links:

Credit Aggregates

Bank Deposits