Total private sector deposits rose by 303 million euros in May 2024, compared with an increase of 384 million euros the previous month, while the annual rate of change eased to 2.5 percent from 2.8 percent the previous month.
Deposits by households and private non-profit organizations fell by €274 million in May 2024, compared to an increase of €348 million in the previous month, while the annual rate of change remained unchanged at 2.3% from last month.
In contrast, business deposits increased by €577 million, compared to an increase of €36 million in the previous month, while the annual rate of change eased to 3.1% from 4.4% in the previous month.. In particular, the deposits of non-financial enterprises (MXE) increased by 559 million euros against the decrease of 154 million euros in the previous month. Deposits from insurance companies and other financial institutions increased by 18 million euros, compared to an increase of 190 million euros in the previous month.
In general deposits from the private sector May 2024 rose by €303 million, compared to an increase of €384 million in the previous month, while the annual rate of change eased to 2.5 percent from 2.8 percent in the previous month.
Regarding grants. In May 2024, the monthly net flow of funding to businesses was positive at €105 million, compared to a negative net flow of €730 million in the previous month, and the annual rate of change increased to 8.3% from 7.8% in the previous month. In particular, the annual rates of change in financing of non-financial corporations (NFCs) increased from 6.9% in the previous month to 7.6%. Their monthly net funding flow was positive at €78 million, compared to a negative net flow of €298 million the previous month. The annual rate of change in financing of insurance companies and other financial institutions decreased from 15.8% in the previous month to 13.7%. Their monthly net funding flow was positive at €27 million, compared to a negative net flow of €432 million the previous month.
Nevertheless, the monthly net flow of financing to individuals and private non-profit organizations was negative by 32 million euros;In May 2024, against a negative net flow of EUR 34 million in the previous month. The annual rate of change in their financing was -1.0% from -1.1% in the previous month.
As a result of the above The annual rate of change in total private sector financing increased to 4.8% from 4.5% in the previous month.. The monthly net flow of general financing to the private sector was positive by 66 million euros, against a negative net flow of 789 million euros in the previous month.