According to the official report, the balance of deposits in January 2020 amounted to €48.5 billion, a net decrease of €311.9 million, compared to a net increase of €295.8 million registered in December 2019.

Compared with January 2019, however, the amount of total deposits increased by 2 per cent.

Foreign currency deposits in January 2020 stood at $6.52 billion, £742m, 47.6m Swiss francs and Fr11.5 million.

The lion’s share of total deposits was held by households with deposits of €28.7 billion, followed by businesses with €11 billion, financial intermediaries with €6.23 billion, insurance companies and pension funds with €1.63 billion, while general government deposits stood at €1 billion.

The total amount of loans in January 2020 stood at €33.6 billion, recording a net decrease of €119.2m, compared to the previous month.

The largest share of total loans belong to businesses with €16.48 billion, followed by household loans standing at €14.01 billion, government loans at €437 million and insurance companies’ loans at €6.5 million.

Source: Cyprus Mail