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Credit expansion slowed to 0.4% in Nov.

Δημοσίευση 4 Ιανουαρίου 2011, 10:52 / Ανανεώθηκε 27 Ιουνίου 2013, 14:55
Credit expansion slowed to 0.4% in Nov.
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Credit expansion slowed further in Greece for an annual growth rate of 0.4 pct in November, down from 1.0 pct in October and 4.1 pct in December 2009, the Bank of Greece announced on Monday.

Credit expansion slowed further in Greece for an annual growth rate of 0.4 pct in November, down from 1.0 pct in October and 4.1 pct in December 2009, the Bank of Greece announced on Monday.

The central bank, in a report, said the November figures reflected a decline in the annual growth rates of lending to all sectors of the economy.

Specifically, lending to enterprises was a negative 533 million euros in November, down from positive lending of 302 million euros in November 2009 -- an annual growth rate of 1.6 pct in November (2.2 pct in October and 5.1 pct in December 2009).

The commerce sector recorded improved lending figures in November although it remained on a negative trend (-1.5 pct, compared with -1.9 pct in October and 4.2 pct in December 2009).

All other sectors recorded a further slowdown in their annual lending growth rates: agriculture (-0.3 pct), manufacturing (-1.6 pct), tourism (3.8 pct), shipping (7.0 pct), other financial institutions (-1.1 pct), constructions (1.4 pct), electricity-gas-water (20.9 pct), other transports (-1.4 pct) and all other sectors (4.4 pct).

Net lending to self-employed professionals, farmers and personal businesses was a negative 76 million euros in November for an annual growth rate of -1.0 pct, down from 0.1 pct in October.

Net lending to households was a negative 227 million euros in November after a positive flow of 399 million euros in November 2009. The annual growth rate slowed further to -0.6 pct in November from -0.1 pct in October and 3.1 pct in December 2009.

Net flow of mortgage loans was a negative 87 million euros in November after a positive flow of 267 million in November 2009, for an annual growth rate of 0.3 pct in November, from 0.7 pct in October and 3.7 pct in December.

Consumer loans recorded an annual growth rate of -3.1 pct in November, from -2.3 pct in October and 2.0 pct in December 2009, while the other loans category recorded an annual growth rate of 3.8 pct in November from 4.2 pct in October and -1.1 pct in December 2009.

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