Total deposits reach €51.9 billion, loans €24.7 billion in January

The outstanding amount of total deposits reached €51,9 billion in January 2024, while the outstanding amount of total loans was €24.7 billion, according to the Central Bank of Cyprus.

The Central Bank on 27 February released the Monetary Financial Institutions (MFIs) deposits and loans statistics for the reference month of January 2024, which are included in the February 2024 edition of the Monetary and Financial Statistics.

As it is noted, the total deposits in January 2024 recorded a net decrease of €366.0 million, compared with a net increase of €346,0 million in December 2023 and the annual growth rate of total deposits stood at 0,.8%, compared with 0.4% in December 2023. The outstanding amount of total deposits reached €51.9 billion in January 2024.

Deposits of Cyprus residents exhibited a decrease of €273.1 million. More analytically, deposits of households and non-financial corporations decreased by €28.9 million and €206.5 million respectively. Deposits of the remaining domestic sectors also exhibited a decrease, which stood at €37.7 million.

Total loans in January 2024 recorded a net decrease of €122.9 million, compared with a net increase of €284,2 million in December 2023. The annual growth rate of total loans stood at 0,4%, compared with 0.7% in December 2023. The outstanding amount of total loans reached €24.7 billion in January 2024, the CBC said.

Loans to Cyprus residents exhibited a decrease of €44.8 million. More analytically, loans to households increased by €3.4 million, while loans to non-financial corporations recorded a decrease of €19.1 million. Loans to the remaining domestic sectors exhibited a total decrease of €29.1 million, it concluded.

(Source: CNA)