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New credit flow drops but private sector deposits rise in Greece in November

New credit flow drops but private sector deposits rise in Greece in NovemberThe central bank, in a monthly report, noted that in November 2020, the annual growth rate of total credit extended to the domestic economy increased to 12.5% from 11.5% in the previous month

The monthly net flow of new credit to households and enterprises was only 230 million euros in November, down from 247 million in October, with the monthly net flow to enterprises positive by 417 million euros and to individuals negative by 187 million, the Bank of Greece said in a report on Tuesday, according to ANA.

The central bank, in a monthly report, noted that in November 2020, the annual growth rate of total credit extended to the domestic economy increased to 12.5% from 11.5% in the previous month, while the monthly net flow was positive by 1,879 million euros, compared with a positive net flow of 2,258 million in the previous month.

The annual growth rate of total deposits increased to 9.8% from 8.5% in the previous month; the monthly net flow was positive by 2,724 million euros, compared with a positive net flow of 2,320 million in October 2020.

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