Domestic Economy Credit & Deposit Analysis – April 2024 (Bank of Greece)

Bank credit and deposits: April 2024

29/05/2024 – Δελτία Τύπου

Απρίλιος 2024

Τράπεζας της Ελλάδος (Euro system)

– The annual growth rate of total credit extended to the domestic economy stood at 2.6% in April 2024, compared with 3.0% in the previous month.

– The annual growth rate of total deposits remained unchanged at 1.3% in April 2024, compared to the previous month.

– Deposits placed by the private sector increased by €384 million in April 2024, compared with an increase of €1,678 million in the previous month.

I. Credit to the domestic economy

Τhe monthly net flow of total credit was negative by €815 million in April 2024, compared with a positive net flow of €1,513 million in the previous month.

Ι.1 Credit to the general government

In April 2024, the monthly net flow of credit to the general government was negative by €26 million, compared with a negative net flow of €469 million in the previous month; the annual growth rate decreased to -0.4% from 0.7% in the previous month.

Ι.2 Credit to the private sector

In April 2024, the annual growth rate of credit to the private sector remained unchanged at 4.5% compared to the previous month. The monthly net flow of credit was negative by €789 million, compared with a positive net flow of €1,982 million in the previous month.

Ι.2.1 Credit to corporations

In April 2024, the monthly net flow of credit to corporations was negative by €730 million, compared with a positive net flow of €1,917 million in the previous month; the annual growth rate decreased to 7.8% from 8.0% in the previous month. In particular, the annual growth rate of credit to non-financial corporations (NFCs) increased to 6.9% from 6.6% in the previous month; the monthly net flow was negative by €298 million, compared with a positive net flow of €1,617 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries decreased to 15.8% from 19.2% in the previous month; the monthly net flow was negative by €432 million, compared with a positive net flow of €300 million in the previous month.

Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In April 2024, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative by €26 million, compared with a positive net flow of €48 million in the previous month; the annual growth rate stood at -0.1% compared with -0.6% in the previous month.

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

In April 2024, the monthly net flow of credit to individuals and private non-profit institutions was negative by €34 million, compared with a positive net flow of €17 million in the previous month; the annual growth rate stood at -1.1% compared with -1.4% in the previous month.

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

In April 2024, the monthly net flow of total deposits was positive by €135 million, compared with a positive net flow of €957 million in March 2024.

ΙΙ.1 Deposits placed by the general government

In April 2024, deposits placed by the general government decreased by €249 million, compared with a decrease of €721 million in the previous month; the annual growth rate stood at -27.7% compared with -24.5% in the previous month.

ΙΙ.2 Deposits placed by the private sector

In April 2024, deposits placed by the private sector increased by €384 million, compared with an increase of €1,678 million in the previous month; the annual growth rate increased to 2.8% from 2.6% in the previous month.

ΙΙ.2.1 Corporate deposits

In April 2024, corporate deposits increased by €36 million, compared with an increase of €1,278 million in the previous month; the annual growth rate increased to 4.4% from 1.6% in the previous month. In particular, deposits from NFCs decreased by €154 million, against an increase of €1,507 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €190 million, compared with a decrease of €229 million in the previous month.

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

In April 2024, deposits placed by households and private non-profit institutions increased by €348 million, compared with an increase of €400 million in the previous month; the annual growth rate decreased to 2.3% from 2.9% in the previous month.

Notes:

1. The general government includes central government, local government and social security funds.

2. Deposits include repos.

3. The Bank of Greece is not included in domestic credit institutions.