Deposits in Greek banks rose in March, Bank of Greece reports

In March 2018, the annual growth rate of total credit extended to the economy stood at -2.0 pct from -1.8 pct in the previous month, while the monthly net flow was negative at 850 million euros, compared with a negative net flow of 1,141 million euros in the previous month, according to the Bank of Greece.

The annual growth rate of total deposits stood at 8.7 pct from 7.7 pct in the previous month, while the monthly net flow was positive at 786 million euros, compared with a positive net flow of 528 million euros in February 2018.

In March 2018, deposits placed by the private sector increased by 1,143 million euros, compared with an increase of 59 million euros in the previous month and the annual growth rate stood at 6.3 pct from 5.6 pct in the previous month. Deposits by the general government decreased by 357 million euros, compared with an increase of 469 million euros in the previous month, while the annual growth rate stood at 35.3 pct from 30.3 pct in the previous month.

The monthly net flow of credit to corporations was positive at 389 million euros, compared with a negative net flow of 172 million euros in the previous month, while the annual growth rate of credit stood at 0.1 pct from 0.3 pct in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at -0.2 pct from 0.1 pct in the previous month, while the monthly net flow of credit was positive at 225 million euros, against a negative net flow of 215 million euros in the previous month.

The annual growth rate of credit to insurance corporations and other financial intermediaries stood at 4.6 pct from 2.6 pct in the previous month, while the monthly net flow was positive at 164 million euros, compared with a positive net flow of 43 million euros in the previous month.

The monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at 12 million euros, compared with a negative net flow of 36 million euros in the previous month; the annual growth rate stood at -0.8 pct from -0.3 pct in the previous month.

The monthly net flow of credit to individuals and private non-profit institutions was negative at 157 million euros, compared with a negative net flow of 173 million euros in the previous month; the annual growth rate stood at -2.2 pct from -2.4 pct in the previous month.