The CBC said total deposits fell by €850 million, the highest since July 2013.

The outstanding amount of deposits reached €46 billion in September 2014.

The annual growth rate stood at -4.5% in September compared with -4.3% in August 2014.

Deposits recorded a net decrease of €328 million in August 2014. In particular, deposits of domestic residents dropped in September 2014 by €384.3 million, reaching €32.08 billion, while deposits of third country residents decreased by €446 million reaching €11.81 billion.

Deposits of residents of other EU Member States fell by €20.3 million, reaching €2.07 billion.

Household deposits fell €196.3 million to €26.87 billion, while company deposits recorded an increase of €243.3 million, to €11.26 billion.

Total loans in September 2014 showed a net decrease of €157.1 million, compared with a net increase of €99.4 million in August 2014.

The annual growth rate was -2.8% compared with -3.6% in August 2014.

The outstanding amount of loans reached €59.8 billion in September 2014.

Loans to domestic residents fell by €73.5 million, to €49.57 billion, while loans to residents of EU Member States increased by €71.5 million to €3.6 billion.

Loans to third country residents fell by €155.2 million, to €6.59 billion. Household loans dropped by €163.5 million in September to €24.42 billion. Consumer loans fell by €10 million, to €2.91 billion, while mortgage loans decreased by €73.7 million to €3.59 billion.

Source: Cyprus Mail