Bank credit growth in Greece up in January

Greek economy bank

The annual growth rate of total credit extended to the domestic economy stood at 9.9% in January 2022, compared with 10.2% in the previous month, the Bank of Greece said on Friday.

Meanwhile the annual growth rate of total deposits stood at 8.1%, compared with 8.0% in the previous month.

Deposits placed by the private sector decreased by 2,232 million euros in January 2022, compared with an increase of 4,260 million in the previous month.

More specifically, the central bank said that the monthly net flow of total credit was positive by 1,519 million euros in January 2022, compared with a negative net flow of 1,498 million in the previous month.

In January 2022, the monthly net flow of credit to the general government was positive by 2,822 million, compared with a negative net flow of 3,416 million in the previous month; the annual growth rate decreased to 32.7% from 33.4% in the previous month.

The annual growth rate of credit to the private sector decreased to 0.9% from 1.4% in the previous month.

The monthly net flow of credit was negative by 1,304 million, compared with a positive net flow of 1,918 million in the previous month.

In January 2022, the monthly net flow of credit to corporations was negative by 994 million, compared with a positive net flow of 1,931 million in the previous month; the annual growth rate decreased to 3.5%, from 4.5% in the previous month.

In particular, the annual growth rate of credit to non-financial corporations (NFCs) decreased to 2.8% from 3.7% in the previous month; the monthly net flow was negative by 637 million, compared with a positive net flow of 1,511 million in the previous month.

The annual growth rate of credit to insurance corporations and other financial intermediaries decreased to 11.7% from 12.1% in the previous month.

The monthly net flow was negative by 357 million, compared with a positive net flow of 420 million in the previous month.

The monthly net flow of credit to individuals and private non-profit institutions was negative by 244 million, compared with a negative net flow of 102 million in the previous month; the annual growth rate remained unchanged at -2.4%.

Τhe monthly net flow of total deposits was negative by 1,962 million, compared with a positive net flow of 3,412 million in December 2021.

In January 2022, deposits placed by the general government increased by 270 million, compared with a decrease of 848 million in the previous month; the annual growth rate stood at -12.0%, compared with -20.9% in the previous month.

Deposits placed by the private sector decreased by 2,232 million, compared with an increase of 4,260 million in the previous month; the annual growth rate decreased to 9.3% from 9.9% in the previous month.

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