Local
articles | 01 June 2016

Cyprus banks' deposits up by €144 million in April 2016

The total amount of deposits in the banking system increased by €144 million in April of 2016, while total loans decreased by €86.7 million, continuing the de-leveraging trend for a fourth month in a row.

According to data by the Central Bank, the total amount of deposits in the banking system for April is €45.9 billion, while total loans decreased by €57.4 billion.

Total deposits showed a net increase of €144.9 million compared to a net decrease of €95.6 million in March 2016. On an annual basis deposits increased by 2.4%, while it increased by 2% in March 2016.

Deposits by Cyprus residents increased by €144.8 million, while deposits from citizens of other EU member states increased by €54.4 million. However, deposits from non-EU residents decreased by €54.3 million.

This means the total of deposits for Cyprus residents are valued at €33.6 billion, other EU residents €2.86 billion, and for non-EU residents €9.39 billion.

Meanwhile, total loans for the month of April 2016 showed a net decrease of €86.7 million.

In March the net decrease was €613.1 million, in February €50.8 million, and in January €3.05 billion.

Loans from non-EU residents showed the largest decrease at €121.9 million, whereas loans by Cyprus residents decreased by €37.5 million. The loans for citizens of other EU member states increased by €72.7 million.

Source: InCyprus

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