Private sector deposits up 3.1 bln euros in December

Deposits placed by households and enterprises in Greek banks grew by 3.1 billion euros in December, totaling 134.5 billion euros, the Bank of Greece said in a report released on Monday.

The central bank, in a monthly report, attributed this development to an increase in deposits by enterprises (862 million euros after a 140 million euros decrease in November) and an increase in deposits by households (2.3 billion euros in December).

In December 2018, the annual growth rate of total credit extended to the economy stood at -1.2% from -1.8% in the previous month and the monthly net flow was positive at 1,765 million euros, compared with a positive net flow of 17 million euros in the previous month. The annual growth rate of total deposits stood at 10.4% from 6.4% in the previous month and the monthly net flow was positive at 4,752 million euros, compared with a negative net flow of 240 million euros in November 2018.

In December 2018, the monthly net flow of credit to the general government was positive at 875 million euros, compared with a negative net flow of 89 million euros in the previous month. The annual growth rate of credit to the general government stood at -2.0% from -4.4% in the previous month. In December 2018, the annual growth rate of credit to the private sector stood at -1.1% from -1.4% in the previous month. The monthly net flow of credit to the private sector was positive at 889 million euros, compared with a positive net flow of 106 million euros in the previous month.

Source ANA-MPA
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