Cyprus deposits and loans rise in August as annual credit growth accelerates
Central Bank of Cyprus figures show deposits reached €59.3 billion and outstanding loans reached €28.5 billion in August.
Nicosia, Cyprus. Deposits and loans both recorded net increases in August, according to figures released by the Central Bank of Cyprus (CBC) on Friday. Annual loan growth accelerated, while total deposits reached €59.3 billion.
Deposits
Total deposits rose by a net €171.5 million in August, compared with a €562.3 million increase in July. Their annual growth rate rose to 6.5 per cent from 6.2 per cent.
Deposits held by Cyprus residents increased by €175.3 million. Deposits from non-financial corporations rose by €60.2 million, while household deposits fell by €1.9 million. Deposits from other domestic sectors increased by a combined €117 million.
Loans
Total loans rose by a net €114.6 million in August, reversing a net decline of €68.7 million in July. Annual loan growth increased to 11.8 per cent from 11.1 per cent, and the outstanding stock of loans reached €28.5 billion.
Loans to Cyprus residents increased by €36.5 million. Household lending rose by €12.6 million and loans to non-financial corporations increased by €32.4 million, while loans to other domestic sectors fell by a combined €8.5 million.
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