Greek Private Sector Credit Growth Weakens In November

Credit extended by Greek banks to domestic private sector grew 0.4% year-on-year in November, decelerating from a 1% growth recorded in October, a central bank data showed Monday.

The total outstanding credit amounted to EUR 261.7 billion, up from EUR 261 billion in the previous month. Meanwhile, the monthly net inflow was negative at EUR 835 million compared to
EUR 661 million in October.

Lending to individuals and private non-profit institutions decreased 0.6% from a year earlier. The decline was steeper than the 0.1% fall in October. There was a 0.3% increase in housing loans in November, but the rate of increase was slower than the 0.7% in the previous month.

Consumer credit fell 3.1% annually during the month, worsening from a 2.3% decline in the previous month. The net flow of credit to enterprises in November was negative, amounting to EUR 533 million compared to positive net flow of EUR 302 million in November 2009. Its annual growth rate decelerated to 1.6% from 2.2% in October.




RTT


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