Deposits from households and businesses showed a significant increase of around €2.5 billion in December 2024. As a result, at the end of the year they will reach €150.3 billion.

According to Bank of Greece data, however, their annual rate of change fell to 2.4% from 2.8% the previous month.

As for businesses, their deposits increased by €3.161 billion in December 2024, compared to an increase of €1.718 billion in the previous month, and the annual rate of change decreased to 10.8% from 11.9% in the previous month.

In particular, deposits of non-financial enterprises (MXE) increased by €2.919 billion, compared to an increase of €1.368 billion in the previous month.

Deposits of insurance corporations and other financial institutions increased by EUR 242 million, compared to an increase of €350 million in the previous month.

Overall, private sector deposits increased by €5.654 billion in December 2024, compared to an increase of €2.269 billion in the previous month, while the annual rate of change decreased to 4.5% from 5.0% in the previous month.

In contrast, general government deposits decreased by EUR 411 million in December 2024 compared with an increase of EUR 799 million in the previous month, and the annual rate of change was 7.5%, down from -1.7% in the previous month.

On the loans side, total private sector debt to banks stood at EUR 123 billion.

The monthly net flow of financing to businesses in December 2024 was positive by EUR 2.891 billion, compared to a positive net flow of EUR 1.898 billion in the previous month, while the annual rate of change decreased to 14.0% from 16.2% in the previous month.

In particular, the annual rate of change in the financing of non-financial corporations (NFCs) decreased to 13.8% from 16.0% in the previous month. Their monthly net financing flow was positive by EUR 2.00 billion, compared to a positive net flow of EUR 1.706 billion in the previous month. The annual rate of change in the financing of insurance corporations and other financial institutions decreased to 15.8% from 18.2% in the previous month. The monthly net flow of their funding was positive by EUR 891 million, compared with a positive net flow of €192 million in the previous month.

As for individuals (mortgage and consumer loans), the monthly net flow of funding to individuals and private non-profit institutions was positive by just €55 million in December 2024, compared to a positive net flow of €21 million in the previous month. 

Specifically, the net flow of funding to mortgage loans was only €8 million, while the net flow of consumer loans amounted to €48 million. The annual rate of change in funding was -0.5%, down from -0.7% in the previous month.

Overall, the annual rate of change in total private sector financing decreased to 8.9% from 10.0% in the previous month. The monthly net flow of total financing to the private sector was positive by €3.048 billion, compared with a positive net flow of €1.931 billion in the previous month.

Finally, the monthly net flow of financing to the general government in December 2024 was positive by €588 million, compared to a positive net flow of €558 million in the previous month. The annual rate of change in general government financing was -0.2%, down from -2.4% in the previous month.