Bank of Greece reports annual credit growth easing to 6.2% and deposit growth rising to 4.9% in February 2025

The Bank of Greece published its February 2025 bank credit and deposits statistics, showing slower annual growth in total credit to the domestic economy (6.2%, down from 7.1% in January) alongside faster annual growth in total deposits (4.9%, up from 4.3%). On a flow basis, total credit was broadly flat (a net outflow of EUR 7 million versus EUR 1,380 million previously), while total deposits recorded a smaller monthly net outflow of EUR 774 million (versus EUR 4,324 million). Credit to the general government swung to a monthly net outflow of EUR 1,416 million (from an inflow of EUR 290 million), with the annual growth rate falling to -0.3% (from 2.6%). Private sector credit growth increased to 10.5% (from 10.0%) and posted a monthly net inflow of EUR 1,409 million (from an outflow of EUR 1,671 million), led by corporations (EUR 1,438 million net inflow; 16.5% annual growth), including non-financial corporations (16.7% annual growth; EUR 1,277 million net inflow). Deposits by the general government rose by EUR 928 million and the annual growth rate moved to 15.3% (from -5.9%), while private sector deposits fell by EUR 1,701 million and annual growth eased to 4.5% (from 4.8%); this included a EUR 1,306 million decline in corporate deposits (9.4% annual growth, down from 10.0%) and a EUR 396 million decline in household and private non-profit institution deposits (around 3.0% annual growth). The next Bank of Greece press release on “Bank credit and deposits” covering March 2025 is scheduled for 29 April 2025.