Local
articles | 01 March 2017

Deposits increase, loan deleveraging continues January 2017

Total deposits in the Cypriot banking system in January 2017 amounted to €49 billion, marking an increase of 6% year on year, according to data released by the Central Bank.

Deposits increased by €149 million compared to December 2016 following a decline of €75 million in December 2016.

Compared with January 2016 deposits in the Cypriot banking system rose by 6.0% or €2.8 billion.

Deposits of Cypriot residents amounted to €36.3 billion reduced by €160 million, whereas deposits by other euro area residents increased by €30 million to €3.3 billion. Deposits held by other residents increased by €280 million to €9.4 billion.

Total loans in January 2017 amounted to €54.9 billion marking a net reduction of €86.4 million following a reduction of €98 million in December 2016.

Loans continue a downward path for 13 consecutive months. The annual reduction rate however amounted to 6.6% which is the lowest since December 2015.

Corporate loans amounted to €22.4 billion marking a reduction of €20.6 million.

Household total loans in January 2017 amounted to €22.7 billion down by €28.7 million.

Consumer loans rose by €18 million reaching €2.6 billion, whereas housing loans amounted to €12.9 billion, marking a reduction of €41 million. Other household loans amounted to €7.2 billion down by €5.7 million.

Source: InCyprus

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