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CYPRUS: Deposits and loans in Banks decrease in July

August 29, 2014



Total deposits in CyprusBanks in July 2014 exhibited a net decrease of 153,3 million, as compared with a net decrease of 370,3 million in June 2014, according to data released Thursday by the Central Bank of Cyprus (CBC). The annual growth rate stood at -4,6% as compared with -5,7% in June 2014. The outstanding amount of deposits reached 46,6 billion in July 2014.



Total loans in July 2014 exhibited a net decrease of 435,0 million, as compared with a net increase of 438,7 million in June 2014. The annual growth rate stood at -7,3% as compared with -8,4% in June 2014. The outstanding amount of loans reached 61,1 billion in July 2014.

According to the data from CBC, deposits of domestic residents, fell in July 2014 by 195 million, to 32,23 billion compared with the previous month, while deposits of third countries residents increased by 247 million, to 11,139 billion. Deposits of euro area residents decreased by 12 million, to 2,103 billion.



Household deposits recorded a reduction of 39 million to 27,162 billion. Deposits of non-financial corporations decreased by 5 euro to 11,463 billion.



Loans of domestic residents fell in July 2014 by 64 million to 49,541, compared with the previous month.



Loans to euro area residents fell by 163 million to 4,059 billion, while loans to residents of third countries fell by 144 million, reaching 7.475 billion.



Furthermore, loans to households decreased in July 2014 by 113 million, to 24,653 billion. Consumer loans decreased by 22 million, to 3,029 billion, while housing loans decreased by 64 million to 13,697 billion. Other lending decreased by 28 million, to 7,926 billion. Loans to non - financial corporations fell in July 2014 at 179 million, to 27,867 billion.


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Source: Financial Mirror (Cyprus)


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