New credit flow down, private sector deposits up in November
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ΣΧΕΤΙΚΑ ΑΡΘΡΑ
The monthly net flow of new credit to households and enterprises was only 230 million euros in November, down from 247 million in October, with the monthly net flow to enterprises positive by 417 million euros and to individuals negative by 187 million, the Bank of Greece said in a report on Tuesday.
The central bank, in a monthly report, said that in November 2020, the annual growth rate of total credit extended to the domestic economy increased to 12.5% from 11.5% in the previous month, while the monthly net flow was positive by 1,879 million euros, compared with a positive net flow of 2,258 million in the previous month.
The annual growth rate of total deposits increased to 9.8% from 8.5% in the previous month; the monthly net flow was positive by 2,724 million euros, compared with a positive net flow of 2,320 million in October 2020.
The monthly net flow of credit to the general government was positive by 1,649 million euros, compared with a positive net flow of 2,505 million in the previous month; the annual growth rate increased to 63.2% from 57.0% in the previous month.
In November 2020, the annual growth rate of credit to the private sector increased to 2.6% from 2.5% in the previous month.
In November 2020, deposits placed by the private sector increased by 3,156 million euros, compared with an increase of 2,526 million in the previous month; the annual growth rate increased to 14.0% from 11.6% in the previous month.
Deposits placed by the general government decreased by 432 million euros, compared with a decrease of 206 million in the previous month and the annual growth rate stood at -30.9% from -23.4% in the previous month. In November 2020, corporate deposits increased by 1,871 million euros, compared with an increase of 968 million in the previous month; the annual growth rate increased to 45.1% from 36.1% in the previous month.
Deposits placed by households and private non-profit institutions increased by 1,285 million euros, compared with an increase of 1,558 million in the previous month; the annual growth rate increased to 7.3% from 6.3% in the previous month.
Source: ANA – MPA
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