Deposits in Cypriot banks up by €436 million in September
Deposits in Cypriot banks up by €436 million in September
29/10/2024 8:57

Deposits in the Cypriot banking system rose by €435.8 million in September reaching €54 billion. Furthermore, according to data released by the Central Bank of Cyprus (CBC) total loans rose to €25 billion, with the total liquidity in the banking system (the difference between deposits and loans) amounting to €29 billion.

According to the CBC, the rise in deposits in September was mainly driven by corporate deposits which rose by €367.9 million, whereas household deposits increased by €112.8 million. Deposits of the remaining domestic sectors exhibited a total decrease οf €44.9 million.

The total deposits' annual growth rate amounted to 4.5%, compared with 3.8% in August 2024, the CBC added.

Total loans in September 2024 recorded a net (excluding changes resulting from reclassifications, exchange rate and other adjustments) increase of €107.3 million, compared with a net decrease of €74.9 million in August 2024.

The annual growth rate of total loans stood at 2.0% in September, compared with 1.7% in August 2024, with the outstanding amount of total loans reaching €25.0 billion.

Loans to Cyprus residents observed an increase of €39.4 million.

According to the CBC, loans to households increased by €27.7 million, while loans to non-financial corporations recorded a decrease of €11.2 million.

Loans to the remaining domestic sectors exhibited a total increase of €22.9 million.

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