Bank credit to private sector negative in Jul

In a monthly report, the central bank said that the monthly net flow of total credit to the domestic private sector was negative at 607 million euros, against a positive net flow of 430 million in the previous month.

In July 2015, the monthly net flow of credit to corporations was negative at 204 million, compared with a positive net flow of 416 million in the previous month, while the annual growth rate of credit stood at 0.0 pct against -0.5 pct in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at -1.1 pct in July 2015, from -0.7 pct in June 2015, while the monthly net flow of credit to non-financial corporations was negative at 839 million euros, against a positive net flow of 378 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at 16.5 pct in July 2015, from 2.5 pct in the previous month, and the monthly net flow of credit was positive at 635 million euros, compared with a positive net flow of 38 million in the previous month.

In July 2015, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at 21 million euros, compared with a positive net flow of 29 million in the previous month. In July 2015, the monthly net flow of credit to individuals and private non-profit institutions was negative at 382 million euros, compared with a negative net flow of 14 million in the previous month, and its annual growth rate remained unchanged at -3.1 pct.