Bank credit to the Greek economy shrank 1.6% year-on-year in December 2017, unchanged from a month earlier, but the monthy net flow was positive to the tune of 492 million euro compared to a net outflow of 218 million in November, the Bank of Greece said in a statement.

Total deposits fell by 734 million euro in December 2017, driving the annual growth rate lower to 4.5% from 7.0 percent in the previous month. Total deposits increased by 1,76 billion euro in November, it said.

However,  the deposits of the private sector increased by 2.5 billion euro, compared with an increase of 273 million in November. Still, the annual growth rate slid to 4.7% in December 2017 from 4.8% in the previous month.