Loans down €213 million in October on monthly basis, deposits up

Total loans showed a net decrease of €213 million in October 2024, compared to September of the same year, while deposits recorded a net increase of €377.6 million, mainly due to the increase in deposits of Cyprus residents, according to data published on Thursday by the Central Bank of Cyprus.

Total deposits in October 2024 recorded a net increase of €377.6 million, compared with a net increase of €485.7 million in September 2024. The annual growth rate of total deposits stood at 5.4%, compared with 4.5% in September 2024. The outstanding amount of total deposits reached €54.6 billion in October 2024.

Deposits of Cyprus residents exhibited an increase of €230.2 million. More analytically, deposits of households and non-financial corporations increased by €64.9 million and €115.8 million respectively. Deposits of the remaining domestic sectors exhibited a total increase οf €49.4 million.

Total loans in October 2024 recorded a net decrease of €213 million, compared with a net increase of €107.3 million in September 2024. The annual growth rate of total loans stood at 2%, remaining unchanged compared with September 2024. The outstanding amount of total loans reached €24.8 billion in October 2024.

Loans to Cyprus residents observed a drop of €130.4 million. In particular, loans to households increased by €9.4 million, while loans to non-financial corporations recorded a decrease of €132.2 million. Loans to the remaining domestic sectors fell by €7.6 million.