Press Release of Bank of Greece
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Bank credit to the domestic private sector:
December 2014
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"In December 2014, the
annual growth rate of total credit extended to the domestic private sector
stood at -3.1% compared with -3.0% in the
previous month. The net flow of total credit to the domestic private sector
was negative, at €234 million (December 2013: negative net flow of €170
million).
Credit to corporations
The net flow of credit
to corporations in December 2014 was negative, at €155 million (December
2013: negative net flow of €110 million), and the annual growth rate of
credit stood at -3.7%, compared with -3.6% in the previous month.
In particular, the
annual growth rate of credit to non-financial corporations remained unchanged
at -3.3%, compared with the previous month, while the net flow of credit to
non-financial corporations was negative, at €131 million (December 2013:
negative net flow of €91 million). The annual growth rate of credit to
insurance corporations and other financial intermediaries stood at -8.8% in
December 2014, compared with -8.7% in the previous month.
Credit to sole
proprietors and unincorporated partnerships
The net flow of credit
to sole proprietors and unincorporated partnerships was positive, at €38
million in December 2014 (against a positive net flow of €76 million in
December 2013), while its annual growth rate stood at -0.3%, compared with
0.0% in the previous month.
Credit to individuals
and private non-profit institutions
In December 2014, the
net flow of credit to individuals and private non-profit institutions was
negative, at €117 million (December 2013: negative net flow of €136 million),
while its annual growth rate remained unchanged at -2.9%, compared with the
previous month."
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Source: http://www.bankofgreece.gr/Pages/en/Bank/News/PressReleases/DispItem.aspx?Item_ID=4855&List_ID=1af869f3-57fb-4de6-b9ae-bdfd83c66c95&Filter_by=DT
Our Comments: There appears to be an exit of corporate entities from Greece. Are they giving up on Greece? Can others be left behind? There might be a serious mismatch in bank balance sheets. Germany might not like to support another round of keeping troubled banks stay afloat....EU , may find itself torn between sentiments and reality!!!!
Views Expressed without any risk or responsibility....
