Greek banks’ deposits up 2.54 bln euros in December

Deposits of the private sector increased by 2.54 billion euros in December 2017, after an increase of 273 million euros in November, with the annual growth rate of deposits at 4.7 pct, from 4.8 pct over the same period, respectively, the Bank of Greece said on Friday.

The central bank in a monthly report, said that in December 2017, deposits of the general government decreased by 3,275 million euros, compared with an increase of 1,487 million in the previous month, while the annual growth rate stood at 1.6 pct from 31.2 pct in the previous month.

Corporate deposits decreased by 95 million euros, compared with an increase of 206 million in the previous month and the annual growth rate stood at 10.0 pct from 12.5 pct in the previous month. In particular, deposits from non-financial corporations increased by 473 million, against an increase of 173 million in the previous month, while deposits of insurance corporations and other financial intermediaries decreased by 568 million in December 2017, compared with an increase of 33 million in the previous month.

Deposits of households and private non-profit institutions increased by 2,635 million euros, compared with an increase of 67 million in the previous month, while the annual growth rate stood at 3.6 pct from 3.1 pct in the previous month.

In December 2017, the annual growth rate of total credit extended to the economy stood at -1.6 pct, unchanged from the previous month, while the monthly net flow was positive at 492 million euros, compared with a negative net flow of 218 million in the previous month. The annual growth rate of total deposits stood at 4.5 pct from 7.0 pct in the previous month, while the monthly net flow was negative at 734 million, compared with a positive net flow of 1,760 million euros in November 2017.

The monthly net flow of credit to the general government was positive at 183 million, compared with a negative net flow of 251 million in the previous month. The annual growth rate of credit to the general government stood at -6.5 pct from -5.1 pct in the previous month. In December 2017, the annual growth rate of credit to the private sector stood at -0.9 pct, unchanged from the previous month.