Deposits increased by 2.3 billion euros in September, data from the Central Bank show, with business deposits increasing by approximately 2 billion euros compared to 330 million euros for households. Increase by approximately 2 billion euros net disbursements of loans were also noted, with the largest part again concerning businesses.

In particular, a rise in 330 million euros presented, in September 2024, the deposits of households and private non-profit institutions, against an increase of 1,035 million euros in the previous month, while the annual rate of change decreased to 2.4% from 2.6% in the previous month.

Business deposits

Business deposits increased by 1,994 million euros in September 2024, compared to an increase of 366 million euros the previous month, and the annual rate of change increased to 6.2% from 5.4% the previous month. MXE deposits increased by 2,239 million euros, compared to an increase of 328 million euros in the previous month. Deposits of insurance companies and other financial institutions decreased by 244 million euros, compared to an increase of 38 million euros in the previous month.

Private sector deposits

Total private sector deposits increased by 2,324 billion euros in September 2024, compared to an increase of 1,401 million euros in the previous month, while the annual rate of change was 3.3%, unchanged from the previous month.

Increased loans in September 2024

On the lending side, the monthly net flow of funding to businesses in September 2024 was positive at €1,915bn, compared to a positive net flow of €159m the previous month, while the annual rate of change eased to 10.9 % from 11.3% in the previous month.

In particular, the annual rate of change of the funding of of non-financial corporations (FTE) fell to 9.2% from 10.5% in the previous month. Their monthly net funding flow was positive by 1,611 million euros, compared to a positive net flow of 110 million euros in the previous month. The annual rate of change in the funding of insurance companies and other financial institutions increased to 25.0% from 18.5% in the previous month. Their monthly net funding flow was positive by €305 million, compared to a positive net flow of €49 million the previous month. The monthly net flow of funding to freelancers, farmers and sole proprietorships was positive by €48m, compared to a negative net flow of €10m the previous month. The annual rate of change in their funding stood at 0.3% from 0.4% in the previous month.

In contrast, the monthly net flow of financing to individuals and private non-profit institutions was negative by €21 million in September 2024, compared to a negative net flow of €48 million in the previous month. The annual rate of change in their funding was -0.9% from -0.7% in the previous month.

As a result of the above, the monthly net flow of total financing to the private sector was positive by 1.943 billion euros, against a positive net flow of 102 million euros in the previous month. However, the rate of change in total private sector financing fell to 6.6% from 6.9% in the previous month.

As for the Government, the monthly net flow of financing to the general government, in September 2024, was positive by 105 million euros, against a negative net flow of 473 million euros in the previous month. The annual rate of change in general government funding stood at -2.0% from -0.8% in the previous month.