The Bank of Greece. AMNA

Deposits placed by enterprises and households slightly up in September, BoG report says

Deposits placed by enterprises and households rose slightly in September totaling 114.4 billion euros, from 114.2 billion in August, the Bank of Greece said on Tuesday.

The central bank, in a monthly report, said that private sector deposits fell by 622 million euros in September, after an 1.019 billion euros increase in August, with the annual growth rate slowing to 5.7 pct from 6.2 pct, respectively.

In September 2019, deposits placed by the general government increased by 2,049 million euros, compared with a decrease of 418 million in the previous month and the annual growth rate stood at -10.1 pct from -21.4 pct in the previous month.

In September 2019, corporate deposits decreased by 723 million, compared with a decrease of 25 million in the previous month and the annual growth rate stood at 4.1 pct from 5.9 pct in the previous month. In particular, deposits from non-financial corporations decreased by 467 million euros, against an increase of 167 million in the previous month.

Deposits placed by insurance corporations and other financial intermediaries decreased by 256 million, compared with a decrease of 192 million in the previous month In September 2019, deposits placed by households and private non-profit institutions increased by 101 million, compared with an increase of 1,044 million in the previous month; the annual growth rate stood at 6.0 pct from 6.3 pct in the previous month.

In September 2019, the annual growth rate of total credit extended to the domestic economy stood at -0.9 pct from -0.7 pct in the previous month, while the monthly net flow was positive at 182 million euros, compared with a negative net flow of 555 million in the previous month. The monthly net flow of credit to the general government was positive at273 million, compared with a negative net flow of 154 million in the previous month; the annual growth rate stood at -3.1 pct from -4.4 pct in the previous month.

In September 2019, the annual growth rate of credit to the private sector stood at -0.5 pct from -0.1 pct in the previous month. The monthly net flow of credit to the private sector was negative at 92 million, compared with a negative net flow of 402 million in the previous month. The monthly net flow of credit to corporations was negative at 3 million euros, compared with a negative net flow of 189 million in the previous month and the annual growth rate stood at 1.9 pct from 2.7 pct in the previous month.

Source: ANA-MPA

Dr Anastasios Koularmanis appointed Director of Greek Education at Greek Orthodox Archdiocese