Greek Bank Deposits Rise in March



In March 2018, the annual growth rate of total credit extended to the economy stood at -2.0 percent from -1.8 percent in the previous month, while the monthly net flow was negative at €850 million ($10.3 billion), compared with a negative net flow of €1,141 million in the previous month, according to the Bank of Greece.

The annual growth rate of total deposits stood at 8.7 percent from 7.7 percent in the previous month, while the monthly net flow was positive at €786 million, compared with a positive net flow of €528 million 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 in the previous month and the annual growth rate stood at 6.3 percent from 5.6 percent in the previous month.

Deposits by the general government decreased by €357 million, compared with an increase of €469 million in the previous month while the annual growth rate stood at 35.3 percent from 30.3 percent in the previous month.

The monthly net flow of credit to corporations was positive at €389 million, 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 percent from 0.3 percent in the previous month.

In particular, the annual growth rate of credit to non-financial corporations stood at -0.2 percent from 0.1 percent in the previous month, while the monthly net flow of credit was positive at €225 million, against a negative net flow of €215 million in the previous month.

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

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

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

(Source: AMNA)