Reduction by 1.4 billion euros, the deposits of households and businesses showed in January, according to the data of the Bank of Greece, with the result that their total balance fell to 139.8 billion euros.

Overall in private sector deposits recorded a decrease of 4.5 billion euros, bringing their total balance to 184.1 billion euros, compared to an increase of 5 billion euros in the previous month, while the annual rate of change decreased to 3.5% from 4.8% in the previous month.

The development mainly reflects the reduction by 3 billion euros of business deposits against an increase of 1,790 billion euros in the previous month, while the annual rate of change decreased to 2.9% from 5.8% in the previous month. In particular, the deposits of non-financial companies decreased by 3.4 billion euros, against an increase of 2.6 billion euros in the previous month. Deposits of insurance companies and other financial institutions increased by 305 million euros, against a decrease of 830 million euros in the previous month.

Finally, deposits from the General government.

On the part of loans The annual rate of change in total private sector financing fell to 5.7% from 6.3% in the previous month. The monthly net flow of total financing to the private sector was negative by €2.021 billion, compared to a positive net flow of €2.838 billion in the previous month.

In more detail, the monthly net flow of financing to businesses in January 2023 was negative by 1,728 million euros, compared to a positive net flow of 2,949 million euros in the previous month, while the annual rate of change decreased to 11.3% from 12 .3% in the previous month. In particular, the annual rate of change in financing of non-financial corporations (NFCs) decreased to 10.6% from 11.8% in the previous month. Their monthly net funding flow was negative by €1,405 million, compared to a positive net flow of €2,301 million in the previous month. The annual rate of change in the financing of insurance companies and other financial institutions increased to 18.0% from 16.6% in the previous month. Their monthly net funding flow was negative by €323m, compared to a positive net flow of €647m the previous month.

Finally, the monthly net flow of financing to individuals and private non-profit institutions was negative by 203 million euros in January 2023, compared to a negative net flow of 132 million euros in the previous month. The annual rate of change in their funding was -2.4% from -2.5% in the previous month.

Specifically, in housing loans, the net financing flow was negative by 164 million euros, with the result that the annual rate decreased by 3.6%. Also negative, by 34 million euros, was the flow of financing in consumer loans.