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 on Tuesday. The net flow of total credit to the domestic private sector was negative amounting to EUR -1,557 million (May 2010: positive net flow of EUR 167 million).
Credit to enterprises
The net flow of credit to enterprises in May 2011 was negative, amounting to EUR -959 million (May 2010: positive net flow of EUR 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 EUR -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 EUR -433 million (May 2010: EUR -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%).
