Bank credit to private sector remains negative, deposits fall in June

The central bank, in a monthly report, said that the monthly net flow of total credit to the domestic private sector was positive at 430 million euros, against a negative net flow of 253 million in the previous month. In June 2015, the monthly net flow of credit to corporations was positive at 417 million euros, compared with a positive net flow of 35 million in the previous month, while the annual growth rate of credit stood at -0.5 pct, against -1.1 pct in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at -0.7 pct in June 2015, from -1.4 pct in May 2015, while the monthly net flow of credit to non-financial corporations was positive at 379 million euros, against a negative net flow of 38 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at 2.5 pct in June 2015, from 2.8 pct in the previous month, and the monthly net

flow of credit was positive at 38 million euros, compared with a positive net flow of 72 million in the previous month.

In June 2015, the monthly net flow of credit to sole proprietors and unincorporated partnerships was positive at 29 million euros, compared with a positive net flow of 3 million in the previous month, while its annual growth rate stood at -1.5 pct, compared with -1.2 pct in the previous month.

In June 2015, the monthly net flow of credit to individuals and private non-profit institutions was negative at 16 million euros, compared with a negative net flow of 291 million in the previous month, and its annual growth rate remained almost unchanged at -3.1 pct, compared with -3.2 pct, in the previous month.

The European Central Bank said that Greek banks' deposits fell to 127.5 billion euros in June, from 135.7 billion in May.