TTE: Deposits decreased and loans increased in February

The decrease in the number of employees was continued in February, according to the information published by the TE. The Bank of Greece says that deposits from households and non-profit institutions decreased by 156m euros to 144.5 billion euros and deposits from companies showed a decrease of 912m euros to 44.1 billion euros. It is recalled that in January the deposits of households and private non-profit institutions, against a 2,070 billion euro reduction last month, remained unchanged at 3.1% compared to the previous month. Business deposits had decreased by 3,167 billion euros last month, while the annual rate of change increased to 2.4% from 1.6% last month. In particular, MXE deposits decreased by EUR 537 million, compared with a EUR 3,377 billion reduction last month. The deposits of insurance companies and other financial institutions decreased by EUR 374 million, compared with an increase of EUR 210 million last month. Finally, in February 2024, the general government’s deposits fell by EUR 1,536 million last month and the annual rate of change fell to -10.2% from 2.9% last month. Loans increased In the loan sector, the annual rate of change in total private sector financing increased to 3.8% from 3.0% last month. The monthly net flow of total funding to the private sector was positive by EUR 849 million, compared to a negative net flow of EUR 2,732 billion last month. More specifically, the monthly net flow of funding to businesses in February 2024 was positive by 924m euros, compared to a negative net flow of 2,504m euros last month and the annual rate of change increased to 7.1% from 6.0% last month. In particular, the annual rate of change in the financing of non-financial corporations (IFAs) increased to 6.1% from 5.0% last month. The monthly net flow of their funding was positive by EUR 599 million, compared to a negative net flow of EUR 2 008 billion last month. The annual rate of change in the financing of insurance undertakings and other financial institutions increased to 14.9% from 14.3% last month. The monthly net flow of their funding was positive by EUR 325 million, compared to a negative net flow of EUR 496 million last month. The net flow of housing loans was negative by EUR 124 million resulting in their annual rate of change remaining negative at -3.6%, while a positive flow of funding of EUR 55 million was recorded in consumers and their annual rate of change increased by 4.4%.