Bank of Greece Announces Statistics for Growth Rate of Total Credit

Bank of GreeceThey also released some statistics concerning credit given to corporations. In May of 2016, the monthly net flow of credit to corporations was negative at €68 million, compared to the positive net flow of €85 million logged in the previous month. At the same time, the annual growth rate of credit stood at -1.2%, against -1.1% in the previous month.

In particular, the annual growth rate of credit to non-financial corporations stood at -0.7%, from -0.6% in April 2016 and the monthly net flow of credit to non-financial corporations was negative at €70 million, against a positive net flow of €142 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at -8.7% in May 2016, from -7.7% in the previous month, while the monthly net flow of credit was positive at €2 million, compared with a negative net flow of €57 million in the previous month.

They also released some statistics about credit given to sole proprietors and unincorporated partnerships. In May 2016, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at €14 million, compared with a negative net flow of €46 million in the previous month and its annual growth rate stood at -1.5%, from -1.3% in the previous month.

They also have some statistics on credit to individuals and private non-profit institutions. In May 2016, the monthly net flow of credit to individuals and private non-profit institutions was negative at €275 million, compared with a negative net flow of €195 million in the previous month, while its annual growth rate remained at -2.9%, unchanged from the previous month.

These statistics are interesting because they could show whether or not the Greek economy is improving.

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