The annual growth rate of total credit granted to the domestic private sector decelerated further to 0.4% in November 2010, from 1.0% in October 2010 and 4.1% in December 2009, according to the Bank of Greece
“This development reflects the decrease of the annual growth rate of credit to all the relevant sectors,” said the Bank in a statement on Monday.
The net flow of credit to individuals and private non-profit institutions in November 2010 was negative, amounting to minus EUR227 million.
Moreover, the net flow of credit to enterprises in November 2010 was a negative EUR533 million, while the net flow of loans to sole proprietors was also negative by EUR76 million.
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