The central bank, in a report, said that corporate deposits fell 562 million euros in January, while deposits by individuals dropped 972 million euros in the month after rising by 2.176 billion euros in December 2016.
The central bank said that bank credit fell 1.4% in January, on an annual basis, with the annual rate of decline at -1.6%. Net monthly flow of total credit to the private sector was -885 million euros in January, from 124 million euros in December.
Net monthly flow of credit to enterprises was -643 million euros in January, from 296 million in December, for an annual rate of -0.4%. Net monthly flow of credit to individuals was -221 million euros in January, from -157 million in December 2016, for an annual rate of -2.8%, unchanged from the previous month.