BoG: Bank deposits up 1.037 bln euros in October

Bank deposits in the private sector increased by 1.037 billion euros to reach 123.68 billion euros in October, after a decrease of 47 million euros in the previous month with the annual growth rate standing at 4.6 pct, unchanged from the previous month, the Bank of Greece said on Tuesday.

The central bank, in a monthly report said that in October 2017, corporate deposits increased by 452 million euros, compared with a decrease of 237 million in the previous month and the annual growth rate stood at 13.9 pct from 13.8 pct in the previous month. In particular, deposits from non-financial corporations decreased by 85 million euros, against an increase of 420 million in the previous month, while deposits of insurance corporations and other financial intermediaries increased by 537 million euros in October 2017, compared with a decrease of 657 million in the previous month.

In October 2017, deposits of households and private non-profit institutions increased by 585 million euros, compared with an increase of 190 million in the previous month, while the annual growth rate stood at 2.6 pct from 2.7 pct in the previous month.

In October 2017, deposits of the general government increased by 2.681 billion euros, compared with an increase of 83 million in the previous month and the annual growth rate stood at 30.5 pct from 6.2 pct in the previous month.

The annual growth rate of total credit extended to the economy stood at -1.5 pct in October, unchanged from the previous month, while the monthly net flow was positive at 540 million euros, compared with a negative net flow of 552 million in the previous month. The annual growth rate of total deposits stood at 6.6 pct from 4.7 pct in the previous month and the monthly net flow was positive at 3.718 billion euros, compared with a positive net flow of 36 million in September 2017.