Cyprus bank deposits post small decline

Deposits in the Cypriot credit system registered a small decline in November following three months of increase, dropping to 51.7 billion euros.

According to data published by the Central Bank of Cyprus on Thursday, total loans in November continued their downward trend for a fifth consecutive month, declining to €27.1 billion.

Total liquidity in the banking system amounted to €24.6 billion.

Total deposits in November 2022 recorded a net (excluding changes resulting from reclassifications, exchange rate and other adjustments) decrease of €13.2 million, compared with a net increase of €434.5 million in October 2022.

The annual growth rate stood at -0.1%, compared with 0.9% in October 2022, CBC said.

Furthermore, total loans in November 2022 recorded a net decrease of €19.2 million, compared with a net decrease of €171.9 million in October 2022.

The annual growth rate stood at 0.8%, compared with 0.9% in October 2022, the CBC added.