The Bank of Greece published its January 2025 bank credit and deposits statistics, showing that annual growth in total credit to the domestic economy rose to 7.1% from 5.3% while annual growth in total deposits eased to 4.3% from 4.6%. On a monthly flow basis, total credit recorded a net outflow of EUR 1.38 billion and total deposits a net outflow of EUR 4.324 billion. Credit to the private sector accelerated to 10.0% year on year from 8.9% despite a monthly net outflow of EUR 1.671 billion. Corporate credit posted a monthly net outflow of EUR 1.424 billion while its annual growth rate increased to 15.9%, with non-financial corporations also at 15.9% (up from 13.8%). Credit to sole proprietors and unincorporated partnerships saw annual growth slip to 0.2%, and credit to individuals and private non-profit institutions remained at -0.5% year on year. The next press release covering February 2025 data is scheduled for 27 March 2025.
Bank of Greece 2025-02-27
Bank of Greece reports faster annual credit growth and a January drop in private sector deposits
The Bank of Greece reported that annual growth in total credit to the domestic economy increased to 7.1% in January 2025, while total deposits growth eased to 4.3%. Despite a monthly net outflow of EUR 1.671 billion, private sector credit accelerated to 10.0% year on year. Corporate credit saw a monthly net outflow of EUR 1.424 billion, with annual growth rising to 15.9%.