Total loans and deposits show increase in May

07:55 - 28 June 2024

Economy Reporter

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)

Total loans and deposits show increase in May

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