Greece's credit growth slowed significantly in July, with monthly net credit flows turning negative

(1) In July 2026, Greece's overall annual credit growth fell to 3.4%, marking a significant decline from 5.0% in June and the lowest growth rate since September 2024.(2) Domestic banks' monthly credit performance reversed sharply, recording a net credit outflow of €3.96 billion, compared to a net inflow of €3.5 billion in June.(3) Government-side credit saw a net outflow of €1.37 billion, whereas June registered a net inflow of €213 million; annual government credit growth dropped from 0.4% to -2.0%.(4) Private sector credit growth also cooled, with the annual growth rate declining from 7.7% to 6.8%. A net monthly credit outflow of €2.59 billion was recorded, while in June €3.29 billion in new credit had been granted.