The Bank of Greece recently released data on bank credit
extended to the country’s domestic private sector in December.
During December, the annual growth rate dropped from -1.3 percent in November to -1.5
percent. The net flow of total credit hit $31,230,970, compared to
November’s positive flow of $66,752,300.
Corporations saw a monthly net flow of $153,993,125 and
annual growth rate of credit of -0.1 percent. This is compared to November’s net flow
of 304,755,625 and growth rate of 0.2 percent. Specifically, credit to
non-financial corporations had an annual growth rate of 0 percent and
negative net flow of $109,846,860, compared to November’s 0.5
percent growth rate and positive net flow of $243,373,750.
Insurance corporations and other financial
intermediaries saw a growth rate of -0.2 percent and positive monthly net flow
of $263,834,375, compared to -4.3 percent growth and $61,397,550 net flow in November.
Sole proprietors and unincorporated partnerships saw the
annual growth rate improve from -2.1 percent to -1.9 percent, while monthly net
flow went from a negative $13,999,050 to a negative $16,152,750.
Individuals and nonprofit institutions had an unchanged annual growth rate, which was steady at -2.8 percent. Monthly net flow increased from negative $169,081,150 to negative $223,984,800.
