BoG: Private sector deposits fell by 260 million euros in February

The annual rate of change of the total financing of the domestic economy was 10.3% in February 2022 from 10.0% in the previous month.

According to the Bank of Greece, the annual rate of change of total deposits stood at 8.1%, unchanged from the previous month.

Private sector deposits fell by 260 million euros in February 2022, compared to a decrease of 2.232 million euros in the previous month.

Particularly:

I. Financing the domestic economy

The monthly net flow of total funding was positive by 857 million euros in February 2022, compared to a positive net flow of 1.671 million euros in the previous month.

I.1 General government funding

The monthly net flow of funding to general government in February 2022 was negative by 111 million euros, compared to a positive net flow of 2,974 million euros last month. The annual rate of change in general government funding remained unchanged at 33.0% compared to the previous month.

I.2 Private sector financing

In February 2022, the annual rate of change in total private sector financing increased to 1.4% from 0.9% the previous month. The monthly net flow of total financing to the private sector was positive by 969 million euros, compared to a negative net flow of 1,303 million euros last month.

I.2.1 Business financing

The monthly net flow of financing to businesses in February 2022 was positive by 1,030 million euros, compared to a negative net flow of 994 million euros the previous month, while the annual rate of change increased to 4.4% from 3.5 % last month. In particular, the annual rate of change in the financing of non-financial corporations (NFIs) stood at 2.9% from 2.8% in the previous month. The monthly net flow of their funding was positive by 363 million euros, compared to a negative net flow of 637 million euros last month. The annual rate of change in the financing of insurance companies and other financial institutions increased to 21.1% from 11.7% in the previous month. The monthly net flow of their funding was positive by 667 million euros, compared to a negative net flow of 357 million euros last month.

I.2.2 Financing of freelancers, farmers and sole proprietors

In February 2022, the monthly net flow of funding to the self-employed, farmers and sole proprietorships was positive by € 8 million, compared to a negative net flow of € 66 million the previous month. The annual rate of change of their financing decreased to 0.9% from 1.1% 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 February 2022 was negative by 69 million euros, compared to a negative net flow of 244 million euros in the previous month. The annual rate of change of their financing remained almost unchanged at -2.3%.

II. Deposits of the domestic economy in domestic credit institutions

The monthly net flow of total deposits was negative by 10 million euros, compared to a negative net flow of 1,962 million euros in January 2022.

II.1 Deposits from the general government

In February 2022, general government deposits increased by € 250 million, compared to an increase of € 270 million in the previous month, and the annual rate of change was -1.5% from -12.0% the previous year. month.

II.2 Deposits from the private sector

In February 2022, private sector deposits decreased by 260 million euros, compared to a decrease of 2,232 million euros in the previous month, while the annual rate of change decreased to 8.7% from 9.3% in the previous month.

II.2.1 Deposits from companies

In February 2022, corporate deposits decreased by 215 million euros, compared to a decrease of 1,774 million euros in the previous month, while the annual rate of change decreased to 19.9% ​​from 22.0% in the previous month. In particular, MXE deposits decreased by 333 million euros, compared to a decrease of 2,387 million euros last month. Deposits from insurance companies and other financial institutions rose by 118m euros, up from 613m euros last month.

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

In February 2022, deposits of households and private non-profit institutions decreased by 45 million euros, compared to a decrease of 457 million euros in the previous month, while the annual rate of change decreased to 5.5% from 5.8 % last month.