Total deposits in the Cypriot banking system recorded a net growth of pound 346 million in December, compared with the previous month, with the outstanding amount reaching pound 52.2 billion.
According to data published by the Central Bank of Cyprus, total loans in the last month of 2023, recorded a net (excluding changes resulting from reclassifications, exchange rate and other adjustments) increase of pound 284 million, with total balance amounting to pound 24.8 billion. The liquidity in the banking system (deposits minus loans) amounted to pound 27.4 billion.
Deposits rise by an annual 0.4%
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According to the CBC, total deposits in December 2023 recorded a net increase of pound 346 million, compared with a net increase of pound 91.7 million in November 2023.
The annual growth rate of total deposits stood at 0,4%, compared with 0,9% in November 2023. The outstanding amount of total deposits reached pound 52,2 billion in December 2023, the CBC.
Deposits of Cyprus residents exhibited an increa
se of pound 388 million. Households’ deposits increased by pound 461 million, while deposits of non-financial corporations recorded a decrease of pound 252 million.
Deposits of the remaining domestic sectors (such as investment funds, other financial intermediaries, money lenders, insurance corporations and pension funds and general government) rose by pound 179,0 million.
Loans rise by an annual 0.7%
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Total loans in December 2023 recorded a net increase of pound 284.2 million, compared with a net increase of pound 15 million in November 2023.
Compared with December 2022, total loans rose by 0.7%, compared with a 0.2% decline in November 2023.
The outstanding amount of total loans reached pound 24.8 billion in December 2023.
Loans to Cyprus residents recorded an increase of pound 132.9 million.
Household loans increased by pound 99 million, while loans to domestic non-financial corporations recorded an increase of pound 54.5 million.
Loans to the remaining domestic sectors exhibited a
total decrease of pound 20.6 million, the CBC added.
Source: Cyprus News Agency