Bank of Greece: Bank deposits up 1.297 billion euros in August

Bank deposits placed by the private sector increased by 1,297 million euros in August, compared with an increase of 841 million in the previous month, while the annual growth rate stood at 7.3 pct from 7.4 pct in the previous month, the Bank of Greece said.

The central bank, in a monthly report, said that in August 2018, corporate deposits increased by 533 million euros, compared with an increase of 301 million in the previous month, while the annual growth rate stood at 10.2 pct from 11.4 pct in the previous month. In particular, deposits from non-financial corporations increased by 462 million euros, against a decrease of 54 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by 71 million, compared with an increase of 354 million in the previous month.

Deposits placed by households and private non-profit institutions increased by 764 million euros, compared with an increase of 540 million in the previous month and the annual growth rate stood at 6.6 pct, unchanged from the previous month.

In August 2018, deposits placed by the general government increased by 717 million euros, compared with an increase of 287 million in the previous month and the annual growth rate stood at 46.8 pct from 41.3 pct in the previous month.

In August 2018, the annual growth rate of total credit extended to the economy stood at -2.3 pct from -2.5 pct in the previous month and the monthly net flow was positive at 151 million euros, compared with a negative net flow of 856 million in the previous month. The monthly net flow of credit to the general government was positive at 457 million, compared with a positive net flow of 143 million in the previous month. The annual growth rate of credit to the general government stood at -7.1 pct from -8.4 pct in the previous month. The annual growth rate of credit to the private sector stood at -1.5 pct, unchanged from the previous month. The monthly net flow of credit to the private sector was negative at 307 million euros, compared with a negative net flow of 998 million in the previous month.

The monthly net flow of credit to corporations was negative at 101 million, compared with a negative net flow of 931 million in the previous month; the annual growth rate stood at -1.1 pct, unchanged from the previous month.

In August 2018, the monthly net flow of credit to individuals and private non-profit institutions was negative at 184 million, compared with a negative net flow of 50 million in the previous month; the annual growth rate stood at -2.0 pct, unchanged from the previous month.