Deposits from households and businesses fell by €100m in October, compared to an increase of €694m the previous month, while the annual rate of change eased to 3.5% from 3.7% the previous month.

In more detail, according to the data of the Bank of Greece, the deposits of the private sector decreased by 2.1 billion euros against an increase of 2.2 billion euros in the previous month.

This development reflects the decrease of 2 billion euros in deposits from businesses and the decrease of 100 million euros from households.

instead increase by 261 million euros were presented, in October 2023, by general government depositscompared to a decrease of 1,312 million euros in the previous month and the annual rate of change was -9.1% from -15.2% in the previous month.

On the financing side, the monthly net flow of total financing to the private sector was negative by €856 million, compared to a positive net flow of €2.141 billion in the previous month.

In particular, the monthly net flow of financing to businesses in October 2023 was negative by €669 million, compared to a positive net flow of €2.054 billion in the previous month, and the annual rate of change remained unchanged at 4.9% compared to with the previous month.

In particular, the annual rate of change in financing of non-financial corporations (NFCs) increased to 5.0% from 4.7% in the previous month. Their monthly net funding flow was negative by €430 million, compared to a positive net flow of €2.213 billion in the previous month. The annual rate of change in the funding of insurance companies and other financial institutions eased to 4.1% from 6.6% in the previous month. Their monthly net funding flow was negative €239 million, compared to a negative net flow of €160 million the previous month.

The monthly net flow of funding to freelancers, farmers and sole proprietorships was negative by €66 million, compared to a positive net flow of €52 million the previous month. The annual rate of change in their funding was -3.0% from -3.3% in the previous month.

Finally, the monthly net flow of financing to individuals and private non-profit institutions was negative by 121 million euros in October 2023, compared to a positive net flow of 34 million euros in the previous month. The annual rate of change in their funding was -2.2% from -2.3% in the previous month.