Cyprus Mail
Banking and FinanceBusinessCyprusCyprus Business NewsCyprus by the Numbers

Cyprus sees decrease in loans and deposits in January 2024

euro cash note

Both total loans and deposits in Cyprus witnessed a net decrease in January 2024, according to a report released on Tuesday by the Central Bank of Cyprus (CBC).

According to the report, total loans saw a reduction of €122.9 million, while total deposits decreased by €366.0 million, following an increase in the previous month, referring to December 2023.

Specifically, the CBC reported that total loans in January 2024 decreased to €24.7 billion, with loans to residents of Cyprus showing a decrease of €44.8 million.

Total loans had previously experienced a net increase of €284.2 million in December 2023.

Breaking it down further, loans to households increased by €3.4 million, while loans to non-financial corporations decreased by €19.1 million.

In addition, loans to other domestic sectors collectively saw a drop of €29.1 million.

What is more, total deposits in January 2024 registered a net decrease of €366 million, compared to a net increase of €346.0 million in December 2023.

It should be noted that deposits from residents of Cyprus experienced a decrease of €273.1 million.

The annual growth rate of total deposits reached 0.8 per cent, compared to 0.4 per cent in December 2023.

The remaining total deposits in January 2024 amounted to €51.9 billion.

In detail, deposits from households and non-financial corporations decreased by €28.9 million and €206.5 million, respectively.

Deposits from other domestic sectors also experienced a decrease, amounting to €37.7 million.

Follow the Cyprus Mail on Google News

Related Posts

Tepak joins €2.8 million maritime research project

Kyriacos Nicolaou

The most boring day in Cyprus’ history?

Alix Norman

Flights resume after Israel attack

Jonathan Shkurko

Cyprus property market bruised by inflation and geopolitical conflicts, council president says

Kyriacos Nicolaou

Keravnos: No threat to Cyprus’ economy amid Middle East tensions

Nikolaos Prakas

Cyprus Stock Exchange can become gateway to capital, CSE president says

Kyriacos Nicolaou