Bank of Greece issued the following announcement on Aug. 28

In July 2019, the annual growth rate of total credit extended to the domestic economy stood at -0.4% from -0.3% in the previous month and the monthly net flow was negative at €908 million, compared with a negative net flow of €230 million in the previous month.

The annual growth rate of total deposits stood at 4.4% from 6.2% in the previous month and the monthly net flow was negative at €1,458 million, compared with a positive net flow of €2,360 million in June 2019.
I.Credit to the domestic economy
Ι.1 Credit to the general government(1)

In July 2019, the monthly net flow of credit to the general government was negative at €187 million, compared with a negative net flow of €1,166 million in the previous month; the annual growth rate stood at -2.1% from -1.0% in the previous month.
Ι.2 Credit to the private sector

In July 2019, the annual growth rate of credit to the private sector stood at -0.1% from -0.2% in the previous month. The monthly net flow of credit to the private sector was negative at €721 million, compared with a positive net flow of €936 million in the previous month.
Ι.2.1 Credit to corporations

In July 2019, the monthly net flow of credit to corporations was negative at €437 million, compared with a positive net flow of €1,052 million in the previous month; the annual growth rate stood at 2.8% from 2.2% in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at 2.9% from 2.5% in the previous month, while the monthly net flow was negative at €476 million, against a positive net flow of €809 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at 0.9% from -1.2% in the previous month, while the monthly net flow was positive at €38 million, compared with a positive net flow of €244 million in the previous month.
Ι.2.2 Credit to sole proprietors and unincorporated partnerships

In July 2019, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at €56 million, compared with a negative net flow of €5 million in the previous month; the annual growth rate stood at -2.3% from -2.0% in the previous month.
Ι.2.3 Credit to individuals and private non-profit institutions

In July 2019, the monthly net flow of credit to individuals and private non-profit institutions was negative at €228 million, compared with a negative net flow of €111 million in the previous month; the annual growth rate stood at -2.8% from -2.6% in the previous month.
II.Deposits(2) by the domestic economy with the domestic credit institutions(3)
ΙΙ.1 Deposits placed by the general government
In July 2019, deposits placed by the general government decreased by €3,062 million, compared with an increase of €594 million in the previous month and the annual growth rate stood at -14.7% from 8.2% in the previous month.
ΙΙ.2Deposits placed by the private sector

In July 2019, deposits placed by the private sector increased by €1,604 million, compared with an increase of €1,766 million in the previous month, while the annual growth rate stood at 6.5% from 6.0% in the previous month.
ΙΙ.2.1 Corporate deposits

In July 2019, corporate deposits increased by €1,043 million, compared with an increase of €689 million in the previous month and the annual growth rate stood at 8.4% from 5.3% in the previous month. In particular, deposits from non-financial corporations increased by €335 million, against an increase of €869 million in the previous month. Deposits placed by insurance corporations and other financial intermediaries increased by €708 million, compared with a decrease of €180 million in the previous month.
ΙΙ.2.2 Deposits placed by households and private non-profit institutions

In July 2019, deposits placed by households and private non-profit institutions increased by €561 million, compared with an increase of €1,077 million in the previous month; the annual growth rate stood at 6.1%, unchanged from the previous month.

Note: The next Press Release on “Bank credit and deposits” for August 2019 will be published on 26 September, 2019, in accordance with the Advance release calendar, published on the Bank of Greece website.

(1) The general government includes central government, local government and social security funds.

(2)Including repos.

(3)Excluding the Bank of Greece.

Original source can be found here.