Economy category powered by

Bank deposits and loans record sharp increase in February

Total deposits in February recorded a significant net increase by €65.4 million following a decrease of €366.0 million the previous month, while loans recorded a large net increase of €348.9 million after a net decrease of €122.9 million recorded in January 2024.

According to the Central Bank of Cyprus’ Monetary Financial Institutions (MFIs) deposits and loans statistics for February 2024 - which are included in the March 2024 edition of Monetary and Financial Statistics - total deposits in February 2024 recorded a net increase of €65,4 million, compared with a net decrease of €366,0 million in January 2024.

It adds that the annual growth rate of total deposits stood at 0.3%, compared with 0.8% in January 2024. The outstanding amount of total deposits reached €52,0 billion in February 2024.

Deposits of Cyprus residents, it notes, exhibited an increase of €101,8 million. More analytically, households’ deposits increased by €41,2 million, while deposits of non-financial corporations recorded a decrease of €63,0 million. Deposits of the remaining domestic sectors exhibited a total increase of €123,7 million.

Total loans in February 2024 recorded a net increase of €348,9 million, compared with a net decrease of €122,9 million in January 2024. The annual growth rate of total loans stood at 1.5%, compared with 0.4% in January 2024. The outstanding amount of total loans reached €25,0 billion in February 2024.

The CBC says that loans to Cyprus residents exhibited an increase of €77,9 million. More analytically, loans to households decreased by €3,9 million, while loans to non-financial corporations recorded an increase of €60,6 million. Loans to the remaining domestic sectors exhibited a total increase of €21,2 million, the CBC concludes.

Read More

Ministers call for collective ocean action ahead of CHOGM, COP29
Meridianbet joins the Nasdaq Capital Market
Nammos Limassol to welcome The Gypsy Queens on 27 April
Three Enaerios area Limassol firms organise “Open for All” blood donation
Natasa Iacovides: “An organisation is only as strong as its employees” (video)
CyI: 89% of projected EMME region energy demand could be met through utility-scale RES by 2050
Capacitor Partners and IMR deliver strategic insights for Digital Transformation of the Hellenic Judiciary
Larnaca Development Committee: No extension for port-marina projects...The company must submit the guarantee
Two new Limassol malls coming by way of derogation and the Cabinet
Tourist arrivals up 5. 4% in the first quarter of 2024, says Koumis