Cyprus Mail

Bank deposits down by 2.51% in May

Deposits in the Cypriot banking system in May registered a monthly drop of 2.51% to €55.92 billion compared with €57.37billion in April.
According to figures released Tuesday by the Central Bank of Cyprus, deposits outflow reached €1.44 billion, compared with the reduction of €6.34 billion in April. On an annual basis deposits declined by 22.8% compared with deposits of €72.46 billion in May 2012.
Domestic resident deposits reached €37.76 billion, reduced by €556 million compared with April 2013, whereas deposits of residents of other Eurozone member states reached €2.94 billion, and deposits from residents coming from third countries (non EU countries) registered a reduction of €738 million to €15.22 billion
Company deposits in May declined to €14.72 billion from €15.28 billion in April. Compared with May 2012, company deposits declined by 34.4%.
Total loans also decreased at €67.97 billion compared with €68.42 in April. Compared with May 2012 total loans declined by 2%. Loans to domestic residents dropped by €356 million to €52.79 compared with April’s €51.10 billion. However compared with May 2012 loans to domestic residents increased by 1.4%.
Housing loans also declined to €14.18 billion compared with April’s €14.27.
Loans to businesses reached €24.17 billion, reduced by €185 million compared with April 2013, whereas business loans declined by 1.3% compared with May 2012.


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