The decrease in deposits continued in February, as can be seen from the data published by the Bank of Greece.

Deposits from households and non-profit institutions fell by €156 million to €144.5 billion and corporate deposits fell by €912 million to €44.1 billion.

It is recalled that in January the deposits of households and private non-profit institutions, against a decrease of 2.070 billion. euros in the previous month, while the annual rate of change remained unchanged at 3.1% compared to the previous month.

Business deposits had fallen by €3.167 billion in the previous month, while the annual rate of change rose to 2.4% from 1.6% in the previous month. In particular, MXE deposits decreased by 537 million euros, compared to a decrease of 3.377 billion euros in the previous month. Deposits of insurance companies and other financial institutions decreased by 374 million euros, compared to an increase of 210 million euros in the previous month.

Finally, general government deposits showed a decrease of 737 million euros in February 2024, compared to an increase of 1,536 million euros the previous month and the annual rate of change decreased to -10.2% from 2.9% the previous month .

Loans increased

On the loans side, the annual rate of change of the total financing of the private sector increased to 3.8% from 3.0% in the previous month. The monthly net flow of total financing to the private sector was positive by €849 million, compared to a negative net flow of €2.732 billion in the previous month.

In more detail, the monthly net flow of financing to businesses in February 2024 was positive by 924 million euros, compared to a negative net flow of 2,504 million euros in the previous month, and the annual rate of change increased to 7.1% from 6 .0% last month. In particular, the annual rate of change in financing of non-financial corporations (NFCs) increased to 6.1% from 5.0% in the previous month. Their monthly net funding flow was positive by 599 million euros, against a negative net flow of 2.008 billion. euros in the previous month. The annual rate of change in the financing of insurance companies and other financial institutions increased to 14.9% from 14.3% in the previous month. Their monthly net funding flow was positive by €325 million, compared to a negative net flow of €496 million the previous month.

The net flow of housing loans was negative by 124 million euros, as a result of which their annual rate of change remained negative at -3.6%, while in consumer loans a positive financing flow of 55 million euros was recorded and their annual rate of change increased by 4 .4%.