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Household deposits down €50.8m, corporate deposits up €126.9m in October

Household deposits recorded a decrease of €50.8 million, while corporate deposits saw a significant increase of €126.9 million in October, according to the Central Bank of Cyprus (CBC).

Loans to households increased by approximately €700,000, while corporate loans decreased by €124.8 million.

Total deposits recorded a net decrease of €61.0 million, compared to a net increase of €87.7 million in September 2023. The annual rate of change in total deposits reached 0.7%, down from 1.6% in September 2023.

As of October 2023, the total of all deposits stood at €51.9 billion, with deposits from Cyprus residents showing an increase of €16.0 million.

According to the CBC, total loans in October 2023 experienced a net decrease of €212.9 million, in contrast to a net increase of €19.2 million in September 2023. The total outstanding loans as of October 2023 amounted to €24.7 billion, with loans to Cyprus residents showing a decrease of €139.6 million.

The annual rate of change in total loans reached -0.3%, compared to a zero annual rate of change in September 2023.

Loans to households increased by €0.7 million, while loans to non-financial corporations decreased by €124.8 million. Loans to other domestic institutional sectors collectively decreased by €15.5 million.

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