BoG: Bank credit to the domestic private sector down in April 2016

The annual growth rate of total credit extended to the domestic private sector in Greece stood at -1.9 percent from -2.1 percent in the previous month, the Bank of Greece announced on Tuesday. The monthly net flow of total credit to the domestic private sector was negative, at €117 million, compared with a negative net flow of €146 million in the previous month.

According to the central bank’s announcement; “….in April 2016, the monthly net flow of credit to corporations was positive at €118 million, compared with a positive net flow of €224 million in the previous month, while the annual growth rate of credit stood at -1.0 percent, against -1.4 percent in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at -0.6 percent, from -0.9 percent in March 2016, while the monthly net flow of credit to non-financial corporations was positive at €175 million, against a positive net flow of €263 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at -7.7 percent in April 2016, from -8.7 percent in the previous month, and the monthly net flow of credit was negative at €57 million, compared with a negative net flow of €40 million in the previous month.

Credit to sole proprietors and unincorporated partnerships

In April 2016, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at €46 million, compared with a negative net flow of €9 million in the previous month, and its annual growth rate stood at -1.3 percent, from -1.0 percent in the previous month.

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Credit to individuals and private non-profit institutions

In April 2016, the monthly net flow of credit to individuals and private non-profit institutions was negative at €189 million, compared with a negative net flow of €361 million in the previous month, and its annual growth rate stood at -2.9 percent, from -3.0 percent in March 2016.”