Bank of Greece: 89 million euro increase in private sector deposits in August

Bank deposits of households and businesses followed different courses for the month of August, according to the official data of the Bank of Greece. However, the overall balance was positive, with total deposits recording an increase of 616 million euros, while the corresponding ones of the private sector only by 89 million euros.

The annual growth rate of total deposits stood at 5.2% in August 2022, compared with 5.8% in the previous month. Deposits placed by the private sector increased by €89 million in August 2022, compared with an increase of €483 million in the previous month.

The overall picture

In August 2022, the monthly net flow of total deposits was positive by €616 million, compared with a positive net flow of €892 million in July 2022. In August 2022, deposits placed by the general government increased by €527 million, compared with an increase of €408 million in the previous month; the annual growth rate increased to 5.6%, compared with 1.3% in the previous month. In August 2022, deposits placed by the private sector increased by €89 million, compared with an increase of €483 million in the previous month; the annual growth rate decreased to 5.2% from 6.1% in the previous month.

In August 2022, corporate deposits decreased by €376 million, compared with a decrease of €304 million in the previous month; the annual growth rate decreased to 7.8% from 12.4% in the previous month. In particular, deposits from NFCs decreased by €412 million, against a decrease of €436 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €35 million, compared with an increase of €131 million in the previous month.

In August 2022, deposits placed by households and private non-profit institutions increased by €465 million, compared with an increase of €788 million in the previous month; the annual growth rate increased to 4.4% from 4.1% in the previous month.