The third quarter of 2023 saw a significant decline in the assets of investment organisations in Cyprus, despite a rise in their numbers, according to a report released on Friday by the Central Bank of Cyprus (CBC) for September.
The report revealed a 4.6 per cent increase in the total number of these organisations, soaring from 307 in June 2023 to 321 in September 2023.
However, their total assets experienced a substantial decrease of 24.6 per cent, dwindling from €8.68 billion in June 2023 to €6.55 billion in September 2023.
The dip in asset value has been attributed primarily to stock acquisitions by these investment bodies, a repercussion of corporate restructuring within Cyprus, as explained by the Central Bank.
Moreover, data also indicated a drop in the overall value of stocks and related titles within the investment organisations’ assets, declining to €4.64 billion in September 2023 from €6.71 billion in June of the same year.
Deposits and loans within these organisations decreased to €758 million, compared to €875 million in June.
However, the value of securities within the investment organisations surged to €614 million in September 2023 from €585 million in June of the same year.
Additionally, non-financial aspects of their assets, including fixed elements, grew to €355 million from €346 million.
Finally, other asset components, encompassing financial derivatives, increased to €180 million from €172 million in June.