Private sector deposits fell by €607 million in July, following an increase of €3.826 billion in the previous month, the Bank of Greece said today. 

The annual rate of change in total deposits fell to 1.4% from 1.8% in the previous month. 

At the same time, the annual rate of change in total financing of the domestic economy remained unchanged at 3.7% in July 2024, compared to the previous month.

- The annual growth rate of total credit extended to the domestic economy stood at 3.7% in July 2024, unchanged from the previous month.

- The annual growth rate of total deposits decreased to 1.4% in July 2024, compared to 1.8% in the previous month.

- Deposits placed by the private sector decreased by €607 million in July 2024, compared with an increase of €3,826 million in the previous month.

Credit to the domestic economy

Τhe monthly net flow of total credit was negative by €1,242 million in July 2024, compared with a positive net flow of €2,468 million in the previous month.

Credit to the general government

In July 2024, the monthly net flow of credit to the general government was negative by €100 million, compared with a negative net flow of €845 million in the previous month; the annual growth rate stood at -0.4%, compared with 0.0% in the previous month.

Credit to the private sector

In July 2024, the annual growth rate of credit to the private sector increased to 6.4% from 6.1% in the previous month. The monthly net flow of credit was negative by €1,143 million, compared with a positive net flow of €3,313 million in the previous month.

Credit to corporations

In July 2024, the monthly net flow of credit to corporations was negative by €1,066 million, compared with a positive net flow of €3,158 million in the previous month; the annual growth rate increased to 10.6% from 10.3% in the previous month. In particular, the annual growth rate of credit to non-financial corporations (NFCs) increased to 9.7% from 9.4% in the previous month; the monthly net flow was negative by €1,084 million, compared with a positive net flow of €2,633 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries increased to 17.6% from 17.0% in the previous month; the monthly net flow was positive by €18 million, compared with a positive net flow of €525 million in the previous month.

Credit to sole proprietors and unincorporated partnerships

In July 2024, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative by €67 million, compared with a positive net flow of €67 million in the previous month; the annual growth rate increased to 0.2%, compared with -0.5% in the previous month.

Credit to individuals and private non-profit institutions

In July 2024, the monthly net flow of credit to individuals and private non-profit institutions was negative by €9 million, compared with a positive net flow of €88 million in the previous month; the annual growth rate stood at -0.8%, compared with -0.9% in the previous month.

Deposits by the domestic economy with the domestic credit institutions

In July 2024, the monthly net flow of total deposits was negative by €868 million, compared with a positive net flow of €3,963 million in June 2024.

Deposits placed by the general government

In July 2024, deposits placed by the general government decreased by €261 million, compared with an increase of €137 million in the previous month; the annual growth rate stood at -24.6%, compared with -21.8% in the previous month.

Deposits placed by the private sector

In July 2024, deposits placed by the private sector decreased by €607 million, compared with an increase of €3,826 million in the previous month; the annual growth rate decreased to 2.7% from 2.9% in the previous month.

Corporate deposits

In July 2024, corporate deposits decreased by €780 million, compared with an increase of €3,051 million in the previous month; the annual growth rate decreased to 4.0% from 5.0% in the previous month. In particular, deposits from NFCs decreased by €781 million, against an increase of €3,283 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €1 million, compared with a decrease of €232 million in the previous month.

Deposits placed by households and private non-profit institutions

In July 2024, deposits placed by households and private non-profit institutions increased by €173 million, compared with an increase of €775 million in the previous month; the annual growth rate remained unchanged at 2.2%, compared to the previous month.