Credit growth accelerates at last…

Pedestrians pass the headquarters of the Bank of Greece SA....

The growth rate of the total credit extended to the economy accelerated in May, at +4.0% year on year versus 2.0% in the previous month, Bank of Greece said. The monthly net flow was positive by 3 billion Euros compared with a positive flow of 2.5 billion Euros in April.

Credit growth to private sector increased to +0.7% versus +0.3% in April.

The net flow was positive by 356 million compared with a negative net flow of 74 million in the previous month.

Bank of Greece said that in May the outstanding amount of loans subject to a temporary suspension of principal and interest repayments was €14.8bn. In particular, loan moratoria refer to housing loans (7.71 billion), loans to NFCs  (4.35 billion), consumption loans (1.5 billion), loans to sole proprietors and unincorporated partnerships (1.27 billion) and other loans to households €3 million).

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