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Deposits in Greek banks increase modestly in June

27 July 17 - RE+D Magazine
Deposits in Greek banks increase modestly in June

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Greek banks' deposits of households and non-profit institutions increased by 771 million euros in June, compared with a decrease of 214 million in the previous month and the annual growth rate stood at 1.9 pct from 1.5 pct in the previous month, the Bank of Greece said on Thursday.

 

The annual growth rate of total deposits stood at 4.2 pct from 4.7 pct in the previous month, while the monthly net flow was positive at 950 million euros, compared with a positive net flow of 334 million in May 2017.

The central bank, in a monthly report, said that the annual growth rate of total credit extended to the economy stood at -1.8 pct in June from -1.6 pct in the previous month and the monthly net flow was negative at 1,322 million euros, compared with a negative net flow of 301 million in the previous month.

In June 2017, the monthly net flow of credit to general government was negative at 1,116 million euros, compared with a positive net flow of 94 million in the previous month.

The annual growth rate of credit to general government stood at -4.6 pct from -5.0 pct, in the previous month. In June 2017, the annual growth rate of credit to the private sector stood at -1.3 pct from -1.0 pct in the previous month.

The monthly net flow of credit to the private sector was negative at 206 million euros, compared with a negative net flow of 395 million in the previous month.

In June 2017, the monthly net flow of credit to corporations was negative at 98 million, compared with a negative net flow of 295 million in the previous month, while the annual growth rate of credit stood at -0.3 pct from 0.4 pct in the previous month.

In particular, the annual growth rate of credit to non-financial corporations stood at -0.2% from 0.4% in the previous month, while the monthly net flow of credit was negative at €151 million, against a negative net flow of €168 million in the previous month.

The annual growth rate of credit to insurance corporations and other financial intermediaries stood at -1.1% in June 2017 from 1.2% in the previous month, while the monthly net flow of credit was positive at €53 million, compared with a negative net flow of €126 million in the previous month.

In June 2017, deposits of the general government decreased by 140 million euros, compared with a decrease of 305 million in the previous month, while the annual growth rate stood at 15.0 pct from 22.1 pct in the previous month. In June 2017, deposits of the private sector increased by 1,090 million euros, compared with an increase of 638 million in the previous month and the annual growth remained unchanged at 3.4 pct from the previous month.

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