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Private sector deposits down in November

Deposits placed by the private sector decreased by 904 million euros in November 2023, after a decrease of 2,143 million in the previous month, with the annual growth rate stood at 2.4% compared with 2.5% in the previous month, the Bank of Greece said on Tuesday.

More specifically, the central bank in a monthly report said that in November 2023 corporate deposits decreased by 748 million, compared with a decrease of 2,044 million in the previous month; the annual growth rate stood at -1.6% compared with -0.4% in the previous month. Deposits placed by households and private non-profit institutions decreased by 156 million, compared with a decrease of 100 million in the previous month; the annual growth rate stood at 3.7% compared with 3.5% in the previous month.

The monthly net flow of total deposits was negative by 932 million, compared with a negative net flow of 1,883 million in October 2023. In November 2023, deposits placed by the general government decreased by 27 million, compared with an increase of 261 million in the previous month; the annual growth rate stood at -8.3% compared with -9.1% in the previous month.

Τhe monthly net flow of total credit was positive by 1,370 million in November 2023, compared with a positive net flow of 349 million in the previous month.

In November 2023, the monthly net flow of credit to the general government was positive by 578 million, compared with a positive net flow of 1,205 million in the previous month; the annual growth rate decreased to 3.1% compared with 3.9% in the previous month. The annual growth rate of credit to the private sector increased to 2.8% from 2.1% in the previous month. The monthly net flow of credit was positive by 792 million, compared with a negative net flow of 856 million in the previous month.

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