Statistics

Release of the statistical data on deposits and loans of credit institutions for June 2024

Published: 31/7/2024

Summary

  • At the end of June 2024, the deposits of households, non-financial corporations and the general government stood at EUR 37.6bn, EUR 15.9bn and EUR 5.7bn, respectively.
  • In the past year, household deposits went up at a rate of 3.0%, with time deposits increasing at a rate of 27.1%.
  • At the end of June 2024, loans to households, non-financial corporations and the general government stood at EUR 23.0bn, EUR 15.1bn and EUR 6.1bn, respectively.
  • In the past year, household loans and loans to non-financial corporations increased at a rate of 11.1% and 4.9%, respectively.

According to monetary statistics data[1], at the end of June 2024, total domestic sector deposits[2] amounted to EUR 60.9bn. In the second quarter of 2024, total domestic sector deposits increased by EUR 1.2bn (1.9%), and compared to the end of the second quarter of 2023, an increase of EUR 3.3bn (5.8%) was recorded. Their annual growth rate decelerated from 6.3% at the end of March to 5.8% at the end of June 2024.

Broken down by sectors, deposits recorded a growth in all sectors in the second quarter of 2024. Household deposits rose by EUR 0.6bn (1.6%), deposits of non-financial corporations rose by EUR 0.2bn (1.0%), while general government deposits went up by EUR 0.3bn (5.7%). At the end of June 2024, the deposits of households, non-financial corporations and the general government stood at EUR 37.6bn, EUR 15.9bn and EUR 5.7bn, respectively.

Figure 1 Domestic sector deposits with credit institutions

At end-June 2024, overnight deposits of domestic sectors[3] stood at EUR 42.1bn, with households accounting for EUR 26.6bn, non-financial corporations for EUR 11.4bn, and the general government for EUR 3.4bn. In the second quarter of 2024, overnight deposits with credit institutions recorded a growth. Overnight deposits of households with credit institutions rose by EUR 0.3bn (1.1%), while overnight deposits of non-financial corporations with credit institutions also increased by EUR 0.3bn (3.0%).

On an annual level, total overnight deposits accelerated their decline from –3.5% at the end of March 2024 to –4.4% at the end of June 2024. The annual decline in overnight deposits of households accelerated from –2.9% at end-March 2024 to –4.5% at end-June 2024, while the annual decline in overnight deposits of non-financial corporations decelerated from –6.7% at the end of March 2024 to –6.2% at the end of June 2024.

At end-June 2024, time deposits of domestic sectors stood at EUR 18.8bn, with time deposits of households and non-financial corporations accounting for EUR 11.0bn and EUR 4.5bn, respectively. In the second quarter of 2024, time deposits of households increased by EUR 0.3bn (2.6%), while the time deposits of non-financial corporations dropped by EUR 0.2bn (3.7%).

On an annual level, the growth in total time deposits accelerated from 37.7% at the end of March 2024 to 38.8% at the end of June 2024. The growth in time deposits of households accelerated from 20.4% at end-March 2024 to 27.1% at end-June 2024, while the annual growth in time deposits of non-financial corporations slowed down from 77.0% at the end of March 2024 to 49.8% at the end of June 2024.

Figure 2 Overnight and time deposits of households and non-financial corporations with credit institutions

At the end of June 2024, total loans to domestic sectors stood at EUR 44.5bn, which is an increase of EUR 1.0bn (2.2%) from the end of the first quarter of 2024 and an increase of EUR 2.5bn (6.0%) from end-June 2023. On an annual level, the growth in total loans to domestic sectors accelerated from 4.8% at end-March 2024 to 6.0% at end-June 2024.

Figure 3 Credit institutions' loans to domestic sectors

Broken down by sectors, at the end of June 2024, household loans stood at EUR 23.0bn. In the second quarter of 2024, household loans increased by EUR 0.7bn (3.1%), up by EUR 2.3bn (11.1%) from the end of the second quarter of 2023. In the second quarter of 2024, housing loans grew by EUR 0.3bn (2.3%) and general-purpose cash loans grew by EUR 0.4bn (4.6%), while all other household loans[4] rose by EUR 0.1bn (1.9%).

On an annual level, the growth in household loans accelerated from 10.9% at the end of March 2024 to 11.1% at the end of June 2024, which was driven by the increase in the annual growth rate of general-purpose cash loans from 12.9% to 14.7% (the highest annual growth rate in the observed period starting from December 2011) and other loans from 5.5% to 5.7%. The annual growth rate of housing loans slowed down from 10.8% to 9.8%.

Figure 4 Household loans

At the end of June 2024, loans to non-financial corporations stood at EUR 15.1bn, having risen by EUR 0.5bn (3.5%) in the second quarter of 2024 and by EUR 0.7bn (4.9%) from the end of the second quarter of 2023.

On an annual level, the growth in loans to non-financial corporations accelerated from 4.0% at the end of March 2024 to 4.9% at the end of June 2024, largely reflecting the acceleration in the growth of investment loans[5] (from 7.9% to 10.8%) and working capital loans (from 6.1% to 7.8%), while the growth of other loans[6] decelerated (from –3.6% to –5.7%).

Figure 5 Loans to non-financial corporations

 

Statistical time series: Aggregated balance sheet of other monetary financial institutions

 

  1. Monetary statistics show the indicators of stocks and transactions of financial assets and liabilities of credit institutions. The changes and rates of change in the release are shown based on transactions. The transactions show changes that exclude the effects of exchange rate changes, reclassifications and write-offs of loans. ↑

  2. Domestic sectors in the release include the general government, households, non-financial corporations, other financial institutions (investment funds other than money market funds, other financial intermediaries and financial auxiliaries) and insurance corporations and pension funds. Non-financial corporations consist of institutional units which are independent legal entities and market producers and whose principal activity is the production of goods and/or non-financial services. ↑

  3. Overnight deposits comprise transaction (giro and current) accounts, savings deposits and a small share of electronic money and restricted deposits. ↑

  4. Other household loans primarily mainly refer to transaction account overdrafts, credit card loans, mortgage loans and other loans. ↑

  5. Investment loans to non-financial corporations comprise loans for construction, tourism, agriculture and investments. ↑

  6. Other loans to non-financial corporations mainly refer to syndicated loans, transaction account overdrafts, export finance loans, factoring and other loans. ↑