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MarketScreener Homepage  >  Equities  >  Athens Stock Exchange  >  Bank of Greece    TELL   GRS004013009

BANK OF GREECE

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Bank credit and deposits: October 2020

11/26/2020 | 06:33am EST
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Bank credit and deposits: October 2020 26/11/2020 - Press Releases

In October 2020, the annual growth rate of total credit extended to the domestic economy increased to 11.5% from 10.6% in the previous month, while the monthly net flow was positive by €2,258 million, compared with a positive net flow of €2,537 million in the previous month.

The annual growth rate of total deposits increased to 8.5% from 7.0% in the previous month; the monthly net flow was positive by €2,320 million, compared with a positive net flow of €1,007 million in September 2020.

I. Credit to the domestic economy

Ι.1 Credit to the general government[1]

InOctober 2020, the monthly net flow of credit to the general government was positive by €2,505 million, compared with a positive net flow of €1,914 million in the previous month; the annual growth rate increased to 57.0% from 54.0% in the previous month.

Ι.2 Credit to the private sector

InOctober 2020, the annual growth rate of credit to the private sector increased to 2.5% from 2.4% in the previous month. The monthly net flow of credit to the private sector was negative by €247 million, compared with a positive net flow of €623 million in the previous month.

Ι.2.1 Credit to corporations

InOctober 2020, the monthly net flow of credit to corporations was negative by €55 million, compared with a positive net flow of €714 million in the previous month; the annual growth rate stood at 7.5%, unchanged from the previous month. In particular, the annual growth rate of credit to non-financial corporations (NFCs) increased to 8.6% from 8.3% in the previous month; the monthly net flow was positive by €72 million, compared with a positive net flow of €660 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at -3.9% from -1.0% in the previous month; the monthly net flow was negative by €127 million, compared with a positive net flow of €54 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

InOctober 2020, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative by €17 million, compared with a negative net flow of €3 million in the previous month; the annual growth rate increased to 0.5% from -0.2% in the previous month.

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

In October 2020, the monthly net flow of credit to individuals and private non-profit institutions was negative by €175 million, compared with a negative net flow of €88 million in the previous month; the annual growth rate stood at -2.4% from -2.5% in the previous month.

I.3 Loans subject to suspended principal and interest repayments[2]

According to data from the four systemic credit institutions up to October 2020, the outstanding amount of loans subject to a temporary suspension of principal and/or interest repayments grew to €20,673 million. In particular, loan moratoria correspond to housing loans (€8,343 million), loans to NFCs (€9,170 million), consumer loans (€1,769 million), loans tosole proprietors and unincorporated partnerships (€1,387 million) and other loans to households (€3 million).

II. Deposits[3] by the domestic economy with the domestic credit institutions[4]

ΙΙ.1 Deposits placed by the general government

InOctober 2020, deposits placed by the general government decreased by €206 million, compared with a decrease of €153 million in the previous month, while the annual growth rate stood at -23.4% from -25.1% in the previous month.

ΙΙ.2 Deposits placed by the private sector

InOctober 2020, deposits placed by the private sector increased by €2,526 million, compared with an increase of €1,160 million in the previous month; the annual growth rate increased to 11.6% from 10.3% in the previous month.

ΙΙ.2.1 Corporate deposits

InOctober 2020, corporate deposits increased by €968 million, compared with an increase of €877 million in the previous month; the annual growth rate increased to 36.1% from 33.2% in the previous month. In particular, deposits from NFCs increased by €143 million, against an increase of €1,047 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €825 million, compared with a decrease of €170 million in the previous month.

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

InOctober 2020, deposits placed by households and private non-profit institutions increased by €1,558 million, compared with an increase of €283 million in the previous month; the annual growth rate increased to 6.3% from 5.4% in the previous month.

Note: The next Press Release on 'Bank credit and deposits' for November 2020 will be published on 5 January 2021, in accordance with the Advance release calendars, published on the Bank of Greece website (Credit Aggregates, Bank Deposits).

[1] The general government includes central government, local government and social security funds.

[2] Regarding loans to corporations and households that have been affected by the COVID-19 pandemic, for which measures have been taken in order to combat its economic impact, in accordance with the Act of Legal Content of 30/3/2020.

[3] Including repos.

[4] Excluding the Bank of Greece.

Disclaimer

Bank of Greece published this content on 26 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2020 11:32:08 UTC


© Publicnow 2020
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Sales 2019 1 734 M 2 098 M 2 098 M
Net income 2019 842 M 1 019 M 1 019 M
Net cash 2019 8 631 M 10 440 M 10 440 M
P/E ratio 2019 0,35x
Yield 2019 4,53%
Capitalization 314 M 380 M 380 M
EV / Sales 2018 -7,16x
EV / Sales 2019 -4,81x
Nbr of Employees 62 093
Free-Float 78,6%
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NameTitle
Yannis Stournaras Governor
K. Michou Director-Financial Operations Department
H. Mavroidis Director-Information Systems Department
K. Dimitrakopoulos Director-Technical & Administrative Support
Charalampos K. Stamatopoulos Member-General Council
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