The annual growth rate of total credit granted to the domestic private sector remained negative at -1.2 percent in July 2011, unchanged from the previous month (December 2010: 0.0 percent), the Bank of Greece announced on Monday.
The central bank, in a monthly report, said that net flow of total credit to the domestic private sector was positive amounting to 13 million euros (July 2010: negative net flow of 126 million euros).
The net flow of credit to enterprises in July 2011 was positive, amounting to 564 million euros (July 2010: positive net flow of 105 million) and the annual growth rate of credit increased to 0.6 percent from 0.2 percent in June 2011 (December 2010: 1.1 percent). The net flow of credit to sole proprietors and unincorporated partnerships was negative, amounting to EUR -53 million in July 2011 (July 2010: positive net flow of EUR 36 million), and the annual rate of change of credit decreased in comparison with the previous month (July 2011: -4.0 percent, June 2011: -3.4 percent, December 2010: 0.3 percent).
In July 2011, the net flow of credit to individuals and private non-profit institutions was negative, amounting to euros -497 million (July 2010: -268 million euros). As a result, the annual growth rate of credit to individuals and private non-profit institutions slightly decreased further (July 2011: -2.7 percent, June 2011: -2.5 percent, December 2010: -1.2 percent).