articles | 29 October 2019

Cyprus bank deposits increase 2.7% to €48.9b in September 2019

Total deposits in Cyprus banks recorded a net increase of €304.1m in September 2019 compared with a net decrease of €61.4m in August.

The annual growth rate reached 2.7% from 1.6% in August 2019 with the amount of deposits reaching €48.86 billion in September from €48.45 billion, according to Cyprus Central Bank data.

Cypriot deposits were €38.62 billion from €38.59 billion, third country nationals €7.21 billion and eurozone nationals held €6.02 billion

Total loans in September 2019 showed a net increase of €20.1 million, compared with a net increase of €177.6 million in August.

The annual growth rate stood at -1.2%, compared with -1.3% in August with the total number of loans reaching €34.3 billion last month.

Loans to Cypriots increased 0.9% on an annual basis from 0.8% in August, consumer loans and mortgages showed slower growth while business loans increased 1% in September from 0.9% the month before.

Source: Financial Mirror


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