Bank of Greece: Greek bank deposits down 1.4 billion euros in January

Private sector deposits in Greek banks fell 1.402 billion euros in January 2018 after an increase of 2.541 billion in December, for an annual growth rate of 4.9 pct (4.7 pct the previous month) the Bank of Greece said on Tuesday.

The central bank, in a monthly report, said that deposits by Greek households and enterprises eased to 102.7 billion euros in January from 103,9 billion in the end of 2017. Households’ deposits fell by 1.061 billion euros while deposits by enterprises fell by 341 million euros in the month.

Bank loans fell 1.6 pct in January, for an annual rate of 6.8 pct, up from 4.5 pct in the previous month, with a monthly net positive flow of 1.491 billion euros, from a negative flow of 732 million euros in December 2017.

In January 2018, the annual rate of total lending of the private sector was -0.8 pct, unchanged from the previous month, with a negative monthly net flow of funding of 787 million euros.

Lending to non-financial enterprises was 0.4 pct in January, unchanged from December, while lending to insurance companies and other financial institutions was 2.9 pct, up from 1.5 pct in December 2017.

Lending to individuals was negative in January, for an annual rate of -2.3 pct in the month, unchanged from December 2017.