Private sector deposits decreased by €2.258 billion in October 2024, compared to an increase of €2.324 billion in the previous month, according to Bank of Greece data. In particular, household and business deposits stood at 195.5 billion euros in October compared to 197.6 billion euros in September. 

In contrast, the monthly net flow of financing to businesses in October 2024 was positive by EUR 2.02 billion, compared to a positive net flow of EUR 1.9 billion in the previous month, while the annual rate of change increased to 14.8% from 10.9% in the previous month.

The annual rate of change in total domestic financing increased to 4.5% in October 2024 from 3.2% in the previous month. The annual rate of change in total deposits was 2.7%, up from 2.6% in the previous month.

Financing the domestic economy

The monthly net flow of total financing was positive by EUR 2,775 million in October 2024, compared to a positive net flow of EUR 2,048 million in the previous month.

General government financing 

The monthly net flow of financing to the general government in October 2024 was positive by EUR 894 million, compared to a positive net flow of EUR 105 million in the previous month. The annual rate of change in general government financing was -2.4%, down from -2.0% in the previous month.

Private sector financing

In October 2024, the annual rate of change in total private sector financing increased to 9.1% from 6.6% in the previous month. The monthly net flow of total financing to the private sector was positive by EUR 1,882 million, compared to a positive net flow of EUR 1,943 million in the previous month.

Financing of enterprises

The monthly net flow of financing to enterprises in October 2024 was positive by EUR 2,020 million, compared to a positive net flow of EUR 1,915 million in the previous month, while the annual rate of change increased to 14.8% from 10.9% in the previous month. In particular, the annual rate of change in the financing of non-financial corporations (NFCs) increased to 13.4% from 9.2% in the previous month. The monthly net flow of their financing was positive by EUR 2,198 million, compared to a positive net flow of EUR 1,610 million in the previous month. The annual rate of change in the financing of insurance corporations and other financial institutions increased to 26.8% from 25.0% in the previous month. The monthly net flow of their funding was negative by EUR 177 million, compared with a positive net flow of EUR 305 million in the previous month.