Economy category powered by
Total loans and deposits show increase in May
07:55 - 28 June 2024
Total deposits and total loans in May recorded an increase, according to the Central Bank of Cyprus (CBC) which released the Monetary Financial Institutions (MFIs) Deposits and Loans Statistics for May 2024, that are included in the June 2024 edition of Monetary and Financial Statistics.
It said that total deposits in May 2024 recorded a net increase of €925.7 million, compared with a net increase of €209.1 million in April 2024 and that total loans in May 2024 recorded a net increase of €70.2 million, compared with a net decrease of €278.6 million in April 2024.
The annual growth rate of total deposits stood at 2.8%, compared with 1.4% in April 2024. The outstanding amount of total deposits reached €53.3 billion in May 2024.
Deposits of Cyprus residents exhibited an increase of €778.8 million. More analytically, deposits of households and non-financial corporations increased by €107.6 million and €315.1 million respectively. Deposits of the remaining domestic sectors also exhibited an increase, which stood at €356.0 million.
Total loans in May 2024 recorded a net increase of €70.2 million, compared with a net decrease of €278.6 million in April 2024. The annual growth rate of total loans stood at 1.2%, remaining unchanged compared with April 2024. The outstanding amount of total loans reached €24.9 billion in May 2024.
Loans to Cyprus residents exhibited an increase of €59.6 million. More analytically, loans to households and non-financial corporations increased by €3.4 million and €62.2 million, respectively. Loans to the remaining domestic sectors exhibited a total decrease of €6.0 million, the CBC concluded.
(Source: CNA)
News Feed
17 hours, 25 minutes ago People
John Sergides: You can have the best skills in the world but, without the right mindset, your success will always be limited1 day, 17 hours ago People
SignalGeneriX's COO on how drones, robotics and AI are taking "centre stage in the theatre of modern warfare"2 days, 17 hours ago Economy
The essential ingredients for Cyprus’ future as an international business and financial hub3 days, 17 hours ago Companies
17th IN Business Awards: Have you voted yet?3 days, 17 hours ago Technology
Digitisation and AI driving growth of new gen businesses3 days, 17 hours ago Companies
GOLD New Issue: Casting an Eye on AI4 days, 9 hours ago Economy
Tourist arrivals up 7.5% in Q1, down 0.8% in March