The Bank of Greece said loans to households fell 1.4 percent in annual terms, declining further from a 1.3 percent contraction in October.
Recession, coupled with tighter credit conditions, is eating into the borrowing that fuelled consumption and economic expansion in Greece in previous years.
Greek economic output contracted by 4.5 percent in 2010 as austerity measures to shrink the budget deficit, including tax hikes and cuts in public sector pay and pensions, took their toll.
The Bank of Greece said home loans shrank 0.7 percent, slowing further from a 0.4 percent annual decline in December, while consumer credit contracted 4.1 percent after a 4.2 percent decline in the previous month.
The central bank said the annual pace of credit growth to businesses decreased to 0.8 percent in January from 0.9 percent in December.
REUTERS
