Cyprus bank deposits rise to 9-year high
Deposits in the Cypriot banking system climbed to a nine-year high last month, while total loans continued their downward path, declining to a five-month low, boosting liquidity in the system to over 23 billion euros.
According to the Monetary Financial Institutions Deposits and Loans Statistics issued by the Central Bank of Cyprus on Wednesday, total deposits in September 2022 recorded a net (changes resulting from reclassifications, exchange rate and other adjustments) increase of €148 million, following a net increase of €173.7 million in August 2022.
The annual growth rate stood at 0.6%, compared with 0.4% in August 2022, with the outstanding amount of deposits reaching €51.8 billion, the CBC added.
According to the central bank’s data, total loans declined for a third month in a row in September, recording a net decrease of €110.9 million, following a decrease of €100 million in the previous month.
The annual credit expansion rate stood at 1.4%, compared with 1.9% in August 2022, while the outstanding amount of total loans reached €28.3 billion in September 2022. The liquidity in the Cyprus banking system amounted to €23.5 billion.
