Cyprus Mail
Cyprus

Deposits rise, as loans drop to seven-and-a-half year low, central bank says

The gap separating overall loans and deposits in the Cypriot banking system shrank in June to €7,6bn, its smallest value following the March 2013 bail-in, as depositors show increased trust to Cypriot banks, which in turn continue to deleverage, the Central Bank of Cyprus said.

Overall deposits rose in June by €343.4m, to €46,8bn, which is the highest since November, while total outstanding loans dropped by €550.5m, to €54.4bn, the lowest since December 2008, the Central Bank of Cyprus said in a statement on its website on Wednesday.

Deposits rose in June mainly on an increase in funds in accounts held by non-financial companies and households by €156.1m and €148.5m, to €10.6bn and €28bn respectively, the bank supervisor said. Non-financial companies and other financial intermediaries saw their outstanding loans drop by €347.7m and €289m, to €23.1bn and €7.5bn, respectively.



Related posts

Visit by Norwegian foreign minister

Report on police handling of serial killer’s victims handed over to attorney-general

George Psyllides

Double murder defendant gets 15 years in jail

George Psyllides

‘Car bomb’ box had death threats written on outside

Staff Reporter

President calls for bicommunal committee on Varosha

Evie Andreou

Women to appear in court over ‘racist’ road rage incident

Nick Theodoulou