Net bank deposits up by 1.007 billion euros in September

Net bank deposits up by 1.007 billion euros in September

The monthly net flow of deposits in Greek banks was positive by 1.007 billion euros in September, after a positive net flow of 128 million in August, with the  annual growth rate of total deposits decreasing to 7.0 pct from 7.4 pct the Bank of Greece said on Tuesday.

The central bank, in a monthly report said that in September 2020, deposits placed by the general government decreased by 153 million euros, compared with a decrease of 292 million in the previous month, while the annual growth rate stood at -25.1 pct from -11.2 pct in the previous month.

In September 2020, deposits placed by the private sector increased by 1.160 billion euros, compared with an increase of 420 million in the previous month; the annual growth rate increased to 10.3 pct from 9.0 pct in the previous month.

Corporate deposits increased by 877 million euros, compared with an increase of 255 million in the previous month; the annual growth rate increased to 33.2 pct from 25.9 pct in the previous month. In particular, deposits from non financial corporations increased by 1.047 billion euros, against an increase of 339 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries decreased by 170 million, compared with a decrease of 84 million in the previous month.

The same month, deposits placed by households and private non-profit institutions increased by 283 million, compared with an increase of 165 million in the previous month; the annual growth rate stood at 5.4 pct from 5.2 pct in the previous month.

In addition, the annual growth rate of total credit extended to the domestic economy increased to 10.6 pct from 9.2 pct in the previous month and the monthly net flow was positive by 2.537 billion euros, compared with a positive net flow of 1.394 billion in the previous month.

In September 2020, the monthly net flow of credit to the general government was positive by 1.914 billion, compared with a positive net flow of 1.163 billion in the previous month; the annual growth rate increased to 54.0 pct  from 49.9 pct in the previous month.

The same month the annual growth rate of credit to the private sector increased to 2.4 pct from 1.9 pct in the previous month. The monthly net flow of credit to the private sector was positive by 623 million, compared with a positive net flow of 231 million in the previous month.

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