The annual rate of change in total deposits increased to 1.9% from 1.4% in the previous month, according to Bank of Greece data, while private sector deposits in particular increased by €1.4 billion in August 2024, compared with a decline of €607 million in the previous month. 

Also, the annual rate of change in total financing of the domestic economy remained almost unchanged at 3.8% in August 2024, compared to the previous month. 

Financing of the domestic economy 

The monthly net flow of total financing was negative by EUR 371 million in August 2024, compared with a negative net flow of EUR 1,242 million in the previous month.

I.1 General government financing 

The monthly net monthly financing flow to the general government in August 2024 was negative by EUR 473 million, compared to a negative net flow of EUR 100 million in the previous month. The annual rate of change in general government financing was -0.8%, down from -0.4% in the previous month. 

I.2 Private sector financing

In August 2024, the annual rate of change in total private sector financing increased to 6.9% from 6.4% in the previous month. The monthly net flow of total financing to the private sector was positive by EUR 102 million, compared to a negative net flow of EUR 1,143 million in the previous month.

I.2.1 Financing of enterprises

The monthly net flow of financing to enterprises in August 2024 was positive by EUR 159 million, compared to a negative net flow of EUR 1,066 million in the previous month, while the annual rate of change increased to 11.3% from 10.6% in the previous month. In particular, the annual rate of change in the financing of non-financial corporations (NFCs) increased to 10.5% from 9.8% in the previous month. The monthly net flow of their financing was positive by EUR 110 million, compared to a negative net flow of EUR 1,041 million in the previous month. The annual rate of change in the financing of insurance corporations and other financial institutions increased to 18.5% from 17.1% in the previous month. The monthly net flow of their funding was positive by EUR 49 million, compared with a negative net flow of EUR 25 million in the previous month.

I.2.2 Financing of the self-employed, farmers and sole proprietorships

In August 2024, the monthly net flow of financing to self-employed persons, farmers and sole proprietorships was negative by EUR 10 million, compared to a negative net flow of EUR 67 million in the previous month. The annual rate of change in their financing increased to 0.4% from 0.2% in the previous month.

I.2.3 Funding of private individuals and private non-profit institutions

The monthly net flow of financing to individuals and private non-profit institutions was negative by EUR 48 million in August 2024, compared to a negative net flow of EUR 9 million in the previous month. The annual rate of change in their funding was -0.7%, down from -0.8% in the previous month.

Deposits of the domestic economy with domestic credit institutions

The monthly net flow of total deposits was positive by EUR 1,337 million in August 2024, compared to a negative net flow of EUR 868 million in July 2024.

II.1 Deposits from general government 

Deposits from the general government decreased by EUR 64 million in August 2024, compared with a decrease of EUR 261 million in the previous month, and the annual rate of change was -27.2%, down from -24.6% in the previous month.

II.2 Deposits from the private sector

Deposits from the private sector increased by EUR 1,401 million in August 2024, compared with a decrease of EUR 607 million in the previous month, and the annual rate of change increased to 3.3% from 2.7% in the previous month. 

II.2.1 Deposits from enterprises

Business deposits increased by EUR 366 million in August 2024, compared with a decrease of EUR 780 million in the previous month, and the annual rate of change rose to 5.4% from 4.0% in the previous month. In particular, MXE deposits increased by 328 million euros, compared to a decrease of 781 million euros in the previous month. Deposits of insurance corporations and other financial institutions increased by EUR 38 million, compared with an increase of EUR 1 million in the previous month.

II.2.2 Deposits from households and private non-profit institutions

Deposits from households and private non-profit institutions increased by EUR 1,035 million in August 2024, compared with an increase of EUR 173 million in the previous month, while the annual rate of change rose to 2.6% from 2.2% in the previous month.