BANKING

Increase in Cyprus bank deposits

increase-in-cyprus-bank-deposits

Bank deposits posted an increase in Cyprus in November, while loans continued to drop, according to statistics released on Wednesday by the island’s central bank.

A press release referred to the monetary financial institutions (MFIs) deposits and loans statistics for the reference month of November 2021, which are included in the December 2021 edition of the Central Bank of Cyprus’Monetary and Financial Statistics. 

According to the data, total deposits in November 2021 recorded a net increase of 480.8 million euros, compared with a net increase of €279.6 million in October 2021.

The annual growth rate last month stood at 5.8%, compared with a yearly increase of 5.3% recorded in October 2021. The outstanding amount of deposits reached €51.2 billion in November 2021.

On the other hand, total loans in the Republic of Cyprus in November 2021 recorded a net decrease of €3.9 million, compared with a net decrease of €15.7 million in October 2021.

The annual growth rate stood at 1.4%, compared with 1.3% in October 2021. The outstanding amount of total loans reached €29.6 billion in November 2021.