Household loans declined by almost €6 billion in August 2019 and loans to non-financial corporations by almost €5 billion.

Total deposits in August 2019 recorded a net decrease of €61.4 million, compared with a net increase of €201.9 million in July 2019 and reached €48.5 billion. This is the highest level of deposits since September 2018. The annual growth rate reached 1.6 %, compared with 2.1% in July 2019.

Household deposits rose in August 2019 by € 2.6 million, compared to the previous month, reaching €3.51 billion. In August 2018, deposits stood at € 23.14 billion. Deposits of non-financial corporations increased by €4.6 million to € 9.48 billion compared to July 2018. In August 2018, corporate deposits stood at €8.66 billion.

Total loans in August 2019 exhibited a net increase of €177.6 million, compared with a net decrease of €3.9 million in July 2019.  The outstanding amount of total loans reached €34.3 billion in August 2019 from € 45.94 billion last August.

The annual growth rate stood at -1.3%, compared with -2.2% in July 2019. Household loans fell in August 2019 to € 12.91 billion from € 12.95 billion last month, while in August 2018 they stood at €18.78 billion.

Consumer loans stood at €1.72 billion from € 1.73 billion in August 2019 in July 2019 and € 2.29 billion last August. House loans dropped to € 8.52 billion from € 8.53 billion in July 2019 and from € 10.75 billion in August 2018.

Loans of non-financial corporations stood at € 12.58 billion from € 12.60 billion last month and from € 17.32 billion last August.

Source: Cyprus Mail