Deposits placed by households and non-profit institutions in Greece grew by 456 million euros in October, totaling 132.5 billion euros, with the annual growth rate at 8.8 percent, the Bank of Greece (BoG) announced on Friday. The central bank, in a monthly report, however, that Greek banks reduced credit extended the domestic economy.
Specifically, the monthly net flow of total deposits was positive by 430 million euros, compared with a positive net flow of 207 million euros in September 2021.
In October 2021, deposits placed by the general government increased by 419 million, compared with a decrease of 234 million in the previous month; the annual growth rate stood at -11.0 percent, compared with -16.7 percent in the previous month. Deposits placed by the private sector increased by 11 million, compared with an increase of 441 million in the previous month; the annual growth rate decreased to 11.5 percent from 13.3 percent in the previous month.
Corporate deposits decreased by 454 million, compared with a decrease of 60 million in the previous month; the annual growth rate increased to 36.1 percent from 33.2 percent in the previous month. In particular, deposits from NFCs decreased by 563 million, against an increase of 249 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by 109 million, compared with a decrease of 309 million in the previous month.
In October 2021, deposits placed by households and private non-profit institutions increased by 465 million, compared with an increase of 501 million in the previous month; the annual growth rate decreased to 8.8 percent from 9.9 percent in the previous month.
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