Economy

Bank of Greece: 1.833 billion increase in private sector deposits in November 2021

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The annual rate of change of the total financing of the domestic economy was 12.2% in November 2021 from 12.4% in the previous month, according to data released today by the Bank of Greece.

The annual rate of change of total deposits stood at 9.3% from 10.1% in the previous month, while private sector deposits increased by 1,833 million euros in November 2021, compared to an increase of 11 million euros in the previous month .

In particular, according to BoG data:

I. Financing of the domestic economy

The monthly net flow of total funding was positive by 1,633 million euros in November 2021, compared to a positive net flow of 1,239 million euros the previous month.

I.1 General government funding

The monthly net flow of funding to the general government, in November 2021, was positive by 1,163 million euros, compared to a positive net flow of 1,281 million euros the previous month. The annual rate of change in general government funding fell to 43.3% from 46.2% the previous month.

I.2 Private sector financing

In November 2021, the annual rate of change in total private sector financing increased to 1.1% from 0.9% the previous month. The monthly net flow of total funding to the private sector was positive by € 470 million, compared to a negative net flow of € 42 million last month.

I.2.1 Business financing

The monthly net flow of financing to businesses in November 2021 was positive by 538 million euros, compared to a positive net flow of 148 million euros in the previous month, while the annual rate of change increased to 4.0% from 3.8 % last month. In particular, the annual rate of change in the financing of non-financial corporations (MFIs) increased to 3.2% from 3.0% in the previous month. The monthly net flow of their funding was positive by 437 million euros, compared to a positive net flow of 215 million euros last month. The annual rate of change in the financing of insurance companies and other financial institutions increased to 13.1% from 12.6% in the previous month. The monthly net flow of their funding was positive by € 101 million, compared to a negative net flow of € 67 million last month.

I.2.2 Financing of freelancers, farmers and sole proprietors

In November 2021, the monthly net flow of funding to the self-employed, farmers and sole proprietors was positive by € 7 million, compared to a negative net flow of € 73 million the previous month. The annual rate of change in their funding fell to 1.5% from 2.0% last 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 November 2021 was negative by 76 million euros, compared to a negative net flow of 117 million euros in the previous month. The annual rate of change of their financing was -2.3% from -2.5% in the previous month.

Deposits of the domestic economy in domestic credit institutions

The monthly net flow of total deposits was positive by 1,668 million euros, compared to a positive net flow of 430 million euros in October 2021.

II.1 Deposits from the general government

In November 2021, general government deposits decreased by 164 million euros, compared to an increase of 419 million euros in the previous month, and the annual rate of change was -8.8% from -11.0% the previous year. month.

II.2 Deposits from the private sector

In November 2021, private sector deposits increased by 1,833 million euros, compared to an increase of 11 million euros in the previous month, while the annual rate of change decreased to 10.4% from 11.5% in the previous month.

II.2.1 Deposits from companies

In November 2021, corporate deposits increased by 2,057 million euros, compared to a decrease of 454 million euros in the previous month, while the annual rate of change decreased to 20.4% from 21.0% in the previous month. In particular, MXE deposits increased by € 2,078 million, compared to a decrease of € 563 million last month. Deposits from insurance companies and other financial institutions fell by 22m euros, up from 109m euros last month.

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

In November 2021, deposits of households and private non-profit institutions decreased by 224 million euros, compared to an increase of 465 million euros in the previous month, while the annual rate of change decreased to 7.5% from 8.8 % last month.

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