The annual rate of change of total deposits stood at 2.7% from 2.3% in January, as reported by the Bank of Greece (BoG).
Specifically, private sector deposits decreased by 5,238 million euros in January 2024, compared to an increase of 6,374 million euros in the previous month. The annual rate of change in total financing of the domestic economy stood at 1.9% in January 2024, up from 2.5% in the previous month, according to the TtE.
1. Financing the domestic economy
The monthly net flow of total funding was negative by €4,473 million in January 2024, compared to a positive net flow of €2,774 million in the previous month.
Funding of general government
The monthly net flow of funding to general government in January 2024 was negative €1,739 million, compared to a negative net flow of €1,118 million the previous month. The annual rate of change in general government funding eased to 0.1% from 0.7% in the previous month.
Financing the private sector
In January 2024, the annual rate of change in total private sector financing decreased to 3.0% from 3.6% in the previous month. The monthly net flow of total financing to the private sector was negative by €2,734 million, compared to a positive net flow of €3,893 million in the previous month.
Business financing
The monthly net flow of funding to businesses in January 2024 was negative at €2,506 million, compared to a positive net flow of €3,801 million in the previous month, and the annual rate of change eased to 6.0% from 6.9% last month.
In particular, the annual rate of change in financing of non-financial corporations (NFCs) decreased to 5.0% from 5.8% in the previous month. Their monthly net funding flow was negative by 2,008 million euros, compared to a positive net flow of 2,860 million euros in the previous month.
The annual rate of change in the financing of insurance companies and other financial institutions fell to 14.3% from 15.9% in the previous month. Their monthly net funding flow was negative at €498 million, compared to a positive net flow of €940 million the previous month.
Financing of freelancers, farmers and sole proprietorships
In January 2024, the monthly net flow of funding to freelancers, farmers and sole proprietorships was negative by €79 million, compared to a positive net flow of €94 million in the previous month. The annual rate of change in their funding was -1.1% from -1.3% in the previous month.
Funding of individuals and private non-profit institutions
The monthly net flow of funding to individuals and private non-profit institutions was negative by €150 million in January 2024, compared to a negative net flow of €2 million the previous month. The annual rate of change in their funding was -1.9% from -2.0% in the previous month.
2. Deposits of the domestic economy in domestic credit institutions
The monthly net flow of total deposits was negative by 3,702 million euros in January 2024, once morest a positive net flow of 5,314 million euros in December 2023.
Deposits from the general government
General government deposits increased by 1,536 million euros in January 2024, compared to a decrease of 1,060 million euros in the previous month, and the annual rate of change increased to 2.9% from -14.6% in the previous month.
Deposits from the private sector
Private sector deposits decreased by 5,238 million euros in January 2024, compared to an increase of 6,374 million euros in the previous month, while the annual rate of change decreased to 2.7% from 3.0% in the previous month.
Deposits from businesses
In January 2024, business deposits showed a decrease of 3,167 million euros, compared to an increase of 3,291 million euros the previous month, while the annual rate of change remained unchanged at 1.6% compared to the previous month.
In particular, according to newsit, MXE deposits decreased by 3,382 million euros, once morest an increase of 2,650 million euros in the previous month. Deposits of insurance companies and other financial institutions increased by 214 million euros, compared to an increase of 642 million euros in the previous month.
Deposits from households and private non-profit institutions
Deposits of households and private non-profit institutions decreased by 2,070 million euros in January 2024, compared to an increase of 3,083 million euros in the previous month, while the annual rate of change decreased to 3.1% from 3.5 % last month.
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