Central Bank: Household deposits up in October

Deposits placed by households and non-profit institutions grew by 456 million euros in October, totaling 132.5 billion euros, with the annual growth rate at 8.8%, the Bank of Greece said on Friday.

The central bank, in a monthly report, however, said that Greek banks reduced credit extended the domestic economy.

More specifically, the monthly net flow of total deposits was positive by 430 million, compared with a positive net flow of 207 million in September 2021.

In October 2021, deposits placed by the general government increased by 419 million, compared with a decrease of 234 million in the previous month; the annual growth rate stood at -11.0%, compared with -16.7% in the previous month.

Deposits placed by the private sector increased by 11 million, compared with an increase of 441 million in the previous month; the annual growth rate decreased to 11.5% from 13.3% in the previous month.

[AMNA]