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Economy

Greek Private Sector Deposits Up Almost €3.0B in April

ATHENS — Deposits placed by the private sector increased by 2.957 billion euros in April, compared with an increase of 1.650 billion in the previous month, with the annual growth rate rising to 14.7% from 13.8%, respectively, the Bank of Greece said on Monday. In a report, the central bank said that deposits placed by households and private non-profit institutions grew by 1.666 billion euros in April with deposits rising by 3.7 billion so far this year, while they were up by 14 billion euros since the outbreak of the pandemic in 2020.

In April 2021, deposits placed by the general government increased by 203 million, compared with a decrease of 229 million in the previous month; the annual growth rate stood at -33.7% compared with -50.6% in the previous month.

Corporate deposits increased by 1,291 million euros, compared with an increase of 857 million in the previous month; the annual growth rate decreased to 15.9% from 19.8% in the previous month.

The annual growth rate of total deposits increased to 10.7% from 6.9% in the previous month; the monthly net flow was positive by 3,160 million, compared with a positive net flow of 1,421 million in March 2021.

In April 2021, the annual growth rate of total credit extended to the domestic economy increased to 17.3% from 16.4% in the previous month, while the monthly net flow was positive by €4,271 million, compared with a positive net flow of €3,980 million in the previous month.

In April 2021, the monthly net flow of credit to the general government was positive by €5,058 million, compared with a positive net flow of €3,575 million in the previous month; the annual growth rate increased to 81.3% from 77.9% in the previous month.

In April 2021, the annual growth rate of credit to the private sector decreased to 2.4% from 2.9% in the previous month. The monthly net flow of credit was negative by €787 million, compared with a positive net flow of €405 million in the previous month.

In April 2021, the monthly net flow of credit to corporations was negative by €657 million, compared with a positive net flow of €596 million in the previous month; the annual growth rate decreased to 6.7% from 7.9% in the previous month. In particular, the annual growth rate of credit to non-financial corporations (NFCs) decreased to 6.7% from 8.7% in the previous month; the monthly net flow was negative by €894 million, compared with a positive net flow of €414 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries increased to 6.8% from 0.0% in the previous month; the monthly net flow was positive by €237 million, compared with a positive net flow of €182 million in the previous month.h.

In April 2021, the monthly net flow of credit to individuals and private non-profit institutions was negative by €138 million, compared with a negative net flow of €225 million in the previous month; the annual growth rate stood at -2.5% from -2.7% in the previous month.

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