BoG: Corporate deposits fell by 1.2 billion euros in March

In March 2022, corporate deposits decreased by 1.190 billion euros, compared to a decrease of 215 million euros last month, according to data from the Bank of Greece.

Private sector deposits decreased by 988 million euros, while deposits from households and private non-profit institutions increased by 201 million euros.

Overall, the annual rate of change of the total financing of the domestic economy was 9.2% in March 2022 from 10.4% in the previous month.

The annual rate of change of total deposits amounted to 6.8%, from 8.1% in the previous month.

In detail, as the BoG informed:

I. Financing the domestic economy

The monthly net flow of total funding was positive by € 1,950 million in March 2022, compared to a positive net flow of € 945 million last month.

I.1 General government funding

The monthly net flow of funding to general government in March 2022 was positive by € 1,196 million, compared to a negative net flow of € 26 million last month. The annual rate of change in general government funding fell to 27.1% from 33.2% last month.

I.2 Private sector financing

In March 2022, the annual rate of change in total private sector financing increased to 1.6% from 1.4% the previous month. The monthly net flow of total financing to the private sector was positive by € 754 million, compared to a positive net flow of € 971 million last month.

I.2.1 Business financing

The monthly net flow of financing to businesses in March 2022 was positive by 831 million euros, compared to a positive net flow of 1,032 million last month, while the annual rate of change increased to 4.7% from 4.4 % last month. In particular, the annual rate of change in the financing of non-financial corporations (MFIs) increased to 3.4% from 2.9% in the previous month. The monthly net flow of their funding was positive by 745 million euros, compared to a positive net flow of 365 million euros last month. The annual rate of change in the financing of insurance companies and other financial institutions decreased to 18.7% from 21.1% in the previous month. The monthly net flow of their funding was positive by 86 million euros, compared to a positive net flow of 667 million euros last month.

I.2.2 Financing of freelancers, farmers and sole proprietors

In March 2022, the monthly net flow of funding to the self-employed, farmers and sole proprietorships was positive by € 20 million, compared to a positive net flow of € 8 million the previous month. The annual rate of change of their financing decreased to 0.7% from 0.9% in the previous month.

I.2.3 Financing of private and private non-profit institutions

The negative net flow of funding to individuals and private non-profit institutions in March 2022 was negative by 97 million euros, compared to a negative net flow of 69 million euros in the previous month. The annual rate of change of their financing was -2.1% from -2.3% in the previous month.

II. Deposits of the domestic economy in domestic credit institutions

The monthly net flow of total deposits was negative by 789 million euros, compared to a negative net flow of 8 million euros in February 2022.

II.1 Deposits from the general government

In March 2022, general government deposits increased by 200 million euros, compared to an increase of 250 million euros in the previous month, and the annual rate of change increased to 3.4% from -1.5% in the previous month. .

II.2 Deposits from the private sector

In March 2022, private sector deposits decreased by 988 million euros, compared to a decrease of 259 million euros in the previous month, while the annual rate of change decreased to 7.0% from 8.7% in the previous month.

II.2.1 Deposits from companies

In March 2022, corporate deposits decreased by 1,190 million euros, compared to a decrease of 215 million euros in the previous month, while the annual rate of change decreased to 13.8% from 19.9% ​​in the previous month.

In particular, MXE deposits decreased by 475 million euros, compared to a decrease of 333 million euros last month. Deposits from insurance companies and other financial institutions fell by 715m euros, up from 118m euros last month.

II.2.2 Deposits from households and private non-profit institutions

Deposits of households and private non-profit institutions increased by 201 million euros in March 2022, compared to a decrease of 44 million euros in the previous month, while the annual rate of change decreased to 5.0% from 5.5 % last month.