Deposits in banks increased in March, both from businesses and households, while bank loans to the private economy also increased significantly, according to the Bank of Greece. 

Private deposits increased by €1.675 billion after a decrease of €1.067 billion in February. Household deposits increased by €396 million compared with a decrease of €156 million last month.

 - The annual growth rate of total credit extended to the domestic economy stood at 3.0% in March 2024, compared with 3.1% in the previous month.

- The annual growth rate of total deposits stood at 1.3% in March 2024, compared with 2.4% in the previous month.

- Deposits placed by the private sector increased by €1,675 million in March 2024, compared with a decrease of €1,067 million in the previous month.

I. Credit to the domestic economy

Ι.1 Credit to the general government

In March 2024, the monthly net flow of credit to the general government was negative by €469 million, compared with a positive net flow of €762 million in the previous month; the annual growth rate decreased to 0.7% compared with 1.9% in the previous month.

Ι.2 Credit to the private sector

In March 2024, the annual growth rate of credit to the private sector increased to 4.5% from 3.8% in the previous month. The monthly net flow of credit was positive by €1,983 million, compared with a positive net flow of €904 million in the previous month.

Ι.2.1 Credit to corporations

In March 2024, the monthly net flow of credit to corporations was positive by €1,913 million, compared with a positive net flow of €924 million in the previous month; the annual growth rate increased to 8.0% from 7.1% in the previous month.

In particular, the annual growth rate of credit to non-financial corporations (NFCs) increased to 6.6% from 6.2% in the previous month; the monthly net flow was positive by €1,613 million, compared with a positive net flow of €673 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries increased to 19.2% from 14.0% in the previous month; the monthly net flow was positive by €300 million, compared with a positive net flow of €251 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In March 2024, the monthly net flow of credit to sole proprietors and unincorporated partnerships was positive by €49 million, compared with a positive net flow of €1 million in the previous month; the annual growth rate remained unchanged at -0.6% compared to the previous month.

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

In March 2024, the monthly net flow of credit to individuals and private non-profit institutions was positive by €21 million, compared with a negative net flow of €20 million in the previous month; the annual growth rate stood at -1.4% compared with -1.7% in the previous month.

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

In March 2024, the monthly net flow of total deposits was positive by €957 million, compared with a negative net flow of €1,803 million in February 2024.

ΙΙ.1 Deposits placed by the general government

In March 2024, deposits placed by the general government decreased by €718 million, compared with a decrease of €737 million in the previous month; the annual growth rate stood at -24.5% compared with -10.2% in the previous month.

ΙΙ.2 Deposits placed by the private sector

In March 2024, deposits placed by the private sector increased by €1,675 million, compared with a decrease of €1,067 million in the previous month; the annual growth rate decreased to 2.6% compared with 3.0% in the previous month.

ΙΙ.2.1 Corporate deposits

In March 2024, corporate deposits increased by €1,278 million, compared with a decrease of €911 million in the previous month; the annual growth rate decreased to 1.6% compared with 2.4% in the previous month. In particular, deposits from NFCs increased by €1,507 million, against a decrease of €536 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries decreased by €229 million, compared with a decrease of €374 million in the previous month.

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

In March 2024, deposits placed by households and private non-profit institutions increased by €396 million, compared with a decrease of €156 million in the previous month; the annual growth rate decreased to 2.9% compared with 3.1% in the previous month.