The annual rate of change in the total financing of the domestic economy fell to 3.2% in September, from 3.8% in the previous month, with household deposits also coming to a standstill.

Specifically, the rate of change in total deposits rose to 2.6% from 1.9% in the previous month, with private sector deposits increasing by €2,324 million in September 2024, compared with an increase of €1,401 million in the previous month, but this was due to strong growth in deposits from businesses, as opposed to deposits from households and non-profit institutions, which increased but much more moderately than in the previous month. 

Αccording to the Bank of Greece:

- The annual growth rate of total credit extended to the domestic economy decreased to 3.2% in September 2024 from 3.8% in the previous month.

- The annual growth rate of total deposits increased to 2.6% in September 2024 from 1.9% in the previous month.

- Deposits placed by the private sector increased by €2,324 million in September 2024, compared with an increase of €1,401 million in the previous month.

I. Credit to the domestic economy

Τhe monthly net flow of total credit was positive by €2,048 million in September 2024, compared with a negative net flow of €371 million in the previous month.

Ι.1 Credit to the general government

In September 2024, the monthly net flow of credit to the general government was positive by €105 million, compared with a negative net flow of €473 million in the previous month; the annual growth rate stood at -2.0%, compared with -0.8% in the previous month.

Ι.2 Credit to the private sector

In September 2024, the annual growth rate of credit to the private sector decreased to 6.6% from 6.9% in the previous month. The monthly net flow of credit was positive by €1,943 million, compared with a positive net flow of €102 million in the previous month.

Ι.2.1 Credit to corporations

In September 2024, the monthly net flow of credit to corporations was positive by €1,915 million, compared with a positive net flow of €159 million in the previous month; the annual growth rate decreased to 10.9% from 11.3% in the previous month. In particular, the annual growth rate of credit to non-financial corporations (NFCs) decreased to 9.2% from 10.5% in the previous month; the monthly net flow was positive by €1,611 million, compared with a positive net flow of €110 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries increased to 25.0% from 18.5% in the previous month; the monthly net flow was positive by €305 million, compared with a positive net flow of €49 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In September 2024, the monthly net flow of credit to sole proprietors and unincorporated partnerships was positive by €48 million, compared with a negative net flow of €10 million in the previous month; the annual growth rate stood at 0.3%, compared with 0.4% in the previous month.

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

In September 2024, the monthly net flow of credit to individuals and private non-profit institutions was negative by €21 million, compared with a negative net flow of €48 million in the previous month; the annual growth rate stood at -0.9%, compared with -0.7% in the previous month.

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

In September 2024, the monthly net flow of total deposits was positive by €2,361 million, compared with a positive net flow of €1,337 million in August 2024.

ΙΙ.1 Deposits placed by the general government

In September 2024, deposits placed by the general government increased by €37 million, compared with a decrease of €64 million in the previous month; the annual growth rate stood at -14.2%, compared with -27.2% in the previous month.

ΙΙ.2 Deposits placed by the private sector

In September 2024, deposits placed by the private sector increased by €2,324 million, compared with an increase of €1,401 million in the previous month; the annual growth rate stood at 3.3%, unchanged from the previous month.

ΙΙ.2.1 Corporate deposits

In September 2024, corporate deposits increased by €1,994 million, compared with an increase of €366 million in the previous month; the annual growth rate increased to 6.2% from 5.4% in the previous month. In particular, deposits from NFCs increased by €2,239 million, against an increase of €328 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries decreased by €244 million, compared with an increase of €38 million in the previous month.

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

In September 2024, deposits placed by households and private non-profit institutions increased by €330 million, compared with an increase of €1,035 million in the previous month; the annual growth rate decreased to 2.4% from 2.6%, in the previous month.