Greek Bank Deposits Down in March



depositsGreek bank deposits fell again in March, with deposits by companies and households falling to 121.5 billion euros at the end of March, from 121.7 billion a month earlier, down around 12.3% compared with March 2015, the Bank of Greece (BoG) said on Wednesday.

Greece’s central bank, in a monthly report, said that the monthly net flow of credit to corporations was positive at 224 million euros in March, compared to a negative net flow of 48 million in the previous month, while the annual growth rate of credit stood at -1.4%, against -1.9% in the previous month. The annual growth rate of credit to non-financial corporations stood at -0.9%, from -1.6% in February 2016, while the monthly net flow of credit to non-financial corporations was positive at 263 million euros, against a negative net flow of 49 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at -8.7% in March 2016, from -6.1% in the previous month, and the monthly net flow of credit was negative at 40 million, compared to a positive net flow of one million in the previous month.

In March 2016, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at nine million, compared to a negative net flow of 20 million euros in the previous month, while its annual growth rate remained at -1.0%, unchanged from the previous month.

In March 2016, the monthly net flow of credit to individuals and private non-profit institutions was negative at 361 million euros, compared to a negative net flow of 226 million euros in the previous month, and its annual growth rate stood at -3.0%, from -2.9% in the previous month.

(source: ana-mpa)


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