Bank credit to the private sector remained negative in the first month of 2016, with the annual growth rate of total credit extended to the domestic private sector at -2.1 pct in January from -2.0 pct in the previous month, according to the Bank of Greece.
The central bank, in its monthly report, said that the monthly net flow of total credit to the domestic private sector was negative at 512 million euros, compared with a positive net flow of 210 million in the previous month.
During January 2016, the monthly net flow of credit to corporations was negative at 201 million, compared with a positive net flow of 355 million euros in the previous month, while the annual growth rate of credit stood at -1.4 pct, against -0.9 pct in the previous month. In particular, the Bank of Greece said that annual growth rate of credit to non-financial corporations stood at -1.6 pct in January 2016, from -1.2 pct in December 2015. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at 1.3 pct in January 2016, from 3.2 pct in the previous month.
At the same period, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at 12 million euros, compared with a negative net flow of 47 million in the previous month, while its annual growth rate remained unchanged at -1.2 pct, compared to the previous month. In January 2016, the monthly net flow of credit to individuals and private non-profit institutions was negative at 299 million euros, compared with a negative net flow of 98 million in the previous month, and its annual growth rate stood at -3.0 pct, from -3.1 pct in the previous month.
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