In particular, according to a Central Bank press release total deposits in April this year recorded a net drop of  €37.1 million compared to a net drop of €452.4 million the previous month. The outstanding amount of deposits in April 2020 reached €48.0 billion.

The annual rate of change reached 0.7% compared to 1.2% this March.

According to the Central Bank`s data business deposits fell in April this year by  €110.7 million, to €10.59 billion.

Households deposits were up by €139.1 million, to €28.75 billion.

Total loans in April 2020 presented a net increase of €5.5 million, compared with a  net increase of €62.5 million in March 2020.  The total outstanding amount of loans in April this year reached €33.6 billion.

The annual rate of change reached -4.4%, compared to -4.9% in March 2020.

According to the data, business loans were up by €62.4 million, reaching €16.50 billion.

Households loans on the other hand fell this April by €39.3 million, reaching €14.08 billion.

Consumer loans fell by €35.7 million, €1.72 billion, mortgages were up by €6.2 million reaching €9.47 billion, while other loans recorded a drop of €9.8 million, reaching €2.88 billion.

Source: In-Cyprus