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FINANCIAL NEWS

Bank Credit To Domestic Private Sector Decrease In May

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The annual growth rate of total credit granted to the domestic private sector decelerated further to -1.1% in May 2011, from -0.5% in April 2011 and 0.0% in December 2010, the Bank of Greece said. The net flow of total credit to the domestic private sector was negative amounting to € -1,557 million (May 2010: positive net flow of € 167 million).

Credit to enterprises

According to a BoG report, the net flow of credit to enterprises in May 2011 was negative, amounting to € -959 million (May 2010: positive net flow of € 310 million) and the annual growth rate of credit decreased to 0.3% compared to 1.2% in April 2011 (December 2010: 1.1%).

Credit to sole proprietors and unincorporated partnerships

The net flow of credit to sole proprietors and unincorporated partnerships was also negative, amounting to € -165 million in May 2011, and the annual rate of change of credit decreased in comparison with  the  previous  month (May 2011: -3.2%,  April 2011: -1.5%, December 2010: 0.3%).

Credit to individuals and private non-profit institutions

In May 2011, the net flow of credit to individuals and private non-profit institutions was negative, amounting to € -433 million (May 2010: € -143 million). As a result, the annual growth rate of credit to individuals and private non-profit institutions decreased further (May 2011: -2.3%, April 2011: -2.1%, December 2010: -1.2%).
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