Statistics

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

Published: 31/10/2024

Summary:

  • At the end of September 2024, the deposits of households, non-financial corporations and the general government stood at EUR 38.7bn, EUR 17.1bn and EUR 6.0bn, respectively.
  • In the past year, household deposits went up at a rate of 2.4%, with time deposits increasing at a rate of 25.2%.
  • At the end of September 2024, loans to households, non-financial corporations and the general government stood at EUR 23.6bn, EUR 15.0bn and EUR 6.0bn, respectively.
  • In the past year, household loans and loans to non-financial corporations increased at a rate of 10.7% and 3.9%, respectively.

According to monetary statistics data[1], at the end of September 2024, total domestic sector deposits[2] amounted to EUR 63.8bn. In the third quarter of 2024, total domestic sector deposits increased by EUR 2.8bn (4.6%), and compared to the end of the third quarter of 2023, an increase of EUR 2.5bn was recorded. Their annual growth rate slowed down from 5.8% at end-June to 4.1% at end-September 2024.

Broken down by sectors, deposits recorded a growth in all sectors in the third quarter of 2024. Household deposits rose by EUR 1.1bn (3.0%), deposits of non-financial corporations rose by EUR 1.2bn (7.8%), while general government deposits went up by EUR 0.4bn (6.5%). In the past year, household deposits and deposits of non-financial corporations increased at a rate of 2.4% and 2.7%, respectively. At the end of September 2024, the deposits of households, non-financial corporations and the general government stood at EUR 38.7bn, EUR 17.1bn and EUR 6.0bn, respectively.

Figure 1 Domestic sector deposits with credit institutions

At the end of September 2024, overnight deposits[3] of domestic sectors stood at EUR 44.9bn, with households accounting for EUR 27.7bn, non-financial corporations for EUR 12.7bn and the general government for EUR 3.6bn. In the third quarter of 2024, overnight deposits with credit institutions recorded a growth. Overnight deposits of households with credit institutions rose by EUR 1.1bn (4.2%), while overnight deposits of non-financial corporations with credit institutions increased by EUR 1.3bn (11.5%).

On an annual level, total overnight deposits decelerated their decline from –4.4% at the end of June 2024 to –2.4% at the end of September 2024. The annual decline in overnight deposits of households accelerated slightly, from –4.5% at end-June 2024 to –4.6% at end-September 2024, while the annual growth rate of overnight deposits of non-financial corporations increased from –6.2% at the end of June 2024 to 1.0% at the end of September 2024.

At the end of September 2024, time deposits of domestic sectors stood at EUR 18.9bn, with time deposits of households and non-financial corporations accounting for EUR 11.0bn and EUR 4.4bn, respectively. In the third quarter of 2024, time deposits of households edged up by EUR 30.4m (0.3%), while time deposits of non-financial corporations dropped by EUR 0.1bn (1.5%).

On an annual level, total time deposits decelerated their growth markedly, from 38.8% at the end of June 2024 to 23.8% at the end of September 2024. The growth in time deposits of households decelerated from 27.1% at end-June 2024 to 25.2% at end-September 2024, while the annual growth in time deposits of non-financial corporations slowed down markedly, from 49.8% at the end of June 2024 to 8.2% at the end of September 2024.

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

At the end of September 2024, total loans to domestic sectors stood at EUR 45.0bn, which is an increase of EUR 0.4bn (1.0%) from the end of the second quarter of 2024 and an increase of EUR 2.2bn from end-September 2023. On an annual level, the growth in total loans to domestic sectors decelerated from 6.0% at the end of June 2024 to 5.0% at the end of September 2024.

Figure 3 Credit institutions' loans to domestic sectors

Broken down by sectors, at the end of September 2024, household loans stood at EUR 23.6bn, with housing loans accounting for EUR 11.6bn and general-purpose cash loans for EUR 9.0bn. In the third quarter of 2024, household loans went up by EUR 0.6bn (2.6%). Housing loans grew by EUR 0.3bn (2.3%) and general-purpose cash loans also grew by EUR 0.3bn (3.6%), while all other household loans[4] rose only slightly, by EUR 13.9m (0.5%).

Household loans went up by EUR 2.3bn from the end of the third quarter of 2023. On an annual level, their growth decelerated from 11.1% at end-June 2024 to 10.7% at end-September 2024, which was driven by the decline in the annual growth rate of housing loans from 9.8% to 8.6% and the fall in other loans from 5.7% to 5.1%. The annual growth rate of general-purpose cash loans increased from 14.7% to 15.8% (the highest annual growth rate in the observed period starting from December 2011).

Figure 4 Household loans

At the end of September 2024, loans to non-financial corporations stood at EUR 15.0bn, having decreased slightly by EUR 18.7m (0.1%) in the third quarter of 2024 and having increased by EUR 0.6bn from the end of the third quarter of 2023.

On an annual level, the growth in loans to non-financial corporations slowed down from 4.9% at the end of June 2024 to 3.9% at the end of September 2024, largely reflecting the deceleration in the growth of investment loans[5] (from 10.8% to 8.1%) and the accelerated decline in other loans (from –5.7% to –6.9%), while the growth in working capital loans accelerated (from 7.8% to 8.5%).

Figure 5 Loans to non-financial corporations

 

Statistical data 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 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. ↑