Positive signs emerged for Greek households’ financial health in July 2026, according to data released by the Bank of Greece (BoG). Total deposits held by households—and private non-profit institutions—rose by €240 million during the month, following a much stronger increase of €992 million in June. As a result, the overall deposit balance stood at €156.385 billion, while the annual growth rate slowed to 3.9%, down from 4.3% in June.
Broad Monetary Trends
The annual growth rate of total domestic financing—encompassing all credit extended to the domestic economy—fell to 3.4% in July 2026, down from 5.0% the previous month. Meanwhile, the annual growth rate of total deposits climbed slightly to 9.0% in July, up from 8.8% in June.
Corporate Deposits Drop Sharply
In contrast to households, businesses saw a marked reversal in deposit behavior. Corporate deposits fell by €2.25 billion in July—after rising by €758 million in June. Non-financial corporations (NFCs) experienced an even steeper decline: their deposits dropped by €2.443 billion, reversing a €7.818 billion increase recorded in June.
Deposits held by insurance companies and other financial institutions rose by €190 million in July—following a €237 million decline the prior month.
Credit Flow Slows Across Sectors
Lending to non-financial corporations slowed, with the annual growth rate of bank financing falling to 9.1% in July, down from 9.8% in June. Monthly net lending to this sector turned negative at €1.795 billion—compared to a positive €2.235 billion in June.
Financing for insurance firms and other financial institutions also decelerated sharply: its annual growth rate dropped to 7.1% in July, from 13.2% in June. Net monthly inflows reversed to a negative €757 million, after a positive €748 million in June.
Private Sector and Government Trends
In the broader private sector—including households and businesses—deposits declined by €2.013 billion in July, following a robust €8.573 billion increase in June. The annual growth rate for private-sector deposits eased to 8.9%, from 9.3% in June.
Government deposits also contracted: general government deposits fell by €175 million in July, after rising by €181 million in June. Notably, the annual growth rate rebounded strongly—to 10.7%—from -1.7% the previous month.
Loans Contract Across the Board
Total bank lending to the private sector slowed further, with its annual growth rate dropping to 6.8% in July, down from 7.7% in June. Monthly net lending turned negative at €2.593 billion—reversing a positive €3.287 billion in June.
Lending to the general government followed the same pattern: net monthly financing was negative €1.367 billion in July, compared to a positive €213 million in June.