Local
articles | 29 August 2014

Deposits and loans in Cyprus banks decrease in July 2014

Total deposits in Cyprus Banks in July 2014 exhibited a net decrease of €153,3 million, as compared with a net decrease of €370,3 million in June 2014, according to data released recently by the Central Bank of Cyprus (CBC).

The annual growth rate stood at -4,6% as compared with -5,7% in June 2014. The outstanding amount of deposits reached €46,6 billion in July 2014. 



Total loans in July 2014 exhibited a net decrease of €435,0 million, as compared with a net increase of €438,7 million in June 2014. The annual growth rate stood at -7,3% as compared with -8,4% in June 2014. The outstanding amount of loans reached €61,1 billion in July 2014. 


According to the data from CBC, deposits of domestic residents, fell in July 2014 by €195 million, to €32,23 billion compared with the previous month, while deposits of third countries residents increased by €247 million, to €11,139 billion.

Deposits of euro area residents decreased by €12 million, to €2,103 billion. 



Household deposits recorded a reduction of €39 million to €27,162 billion. Deposits of non-financial corporations decreased by €5 to €11,463 billion. 



Loans of domestic residents fell in July 2014 by €64 million to €49,541, compared with the previous month. 



Loans to euro area residents fell by €163 million to € 4,059 billion, while loans to residents of third countries fell by €144 million, reaching €7.475 billion. 



Furthermore, loans to households decreased in July 2014 by €113 million, to €24,653 billion. Consumer loans decreased by €22 million, to €3,029 billion, while housing loans decreased by €64 million to €13,697 billion.

Other lending decreased by €28 million, to €7,926 billion. Loans to non-financial corporations fell in July 2014 by €179 million, to €27,867 billion.

Source: Financial Mirror

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