BoG: Greek bank deposits grew to 124.6 billion euros at the end of October

Greek bank deposits grew to 124.6 billion euros at the end of October from 123.47 billion a month earlier, but credit trends remained negative in the month, the Bank of Greece said on Monday.

The central bank, in a monthly report, said that in October 2016, the annual growth rate of total credit extended to the domestic private sector was -1.6 pct, from -1.7 pct in the previous month. The monthly net flow of total credit to the domestic private sector was negative at 308 million euros, compared with a negative net flow of 355 million in the previous month.

In October 2016, the monthly net flow of credit to corporations was negative at 88 million euros, compared with a positive net flow of 25 million in the previous month, while the annual growth rate of credit was -0.3 pct, from -0.5 pct in the previous month. In particular, the annual growth rate of credit to non-financial corporations was 0.1 pct, from -0.2 pct in the previous month and the monthly net flow of credit to non-financial corporations was positive at 126 million euros, against a negative net flow of 153 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries was -5.0 pct in October 2016, from -3.7 pct in the previous month and the monthly net flow of credit was negative at 214 million euros, compared with a positive net flow of 178 million in the previous month.

In October 2016, the monthly net flow of credit to individuals and private non-profit institutions was negative at 184 million euros, compared with a negative net flow of 346 million in the previous month and its annual growth rate stood at -2.8 pct, from -3.0 pct in the previous month, the central bank said.