Deposits in Cyprus rise by €400 mln

Deposits in Cyprus rise by €400 mln

Deposits in the Cypriot banking system rose significantly in June, totaling 52.3 billion euros, while liquidity in the banking system amounted to €27.2 billion.

Loans in the banking system also increased for a second consecutive month in June, reaching €25.1 billion.

According to data published by the Central Bank of Cyprus (CBC), total deposits in June 2023 recorded a net increase (excluding changes resulting from reclassifications, exchange rates and other adjustments) of €399.2 million, compared with a net increase of €164.8 million the month before.

The annual growth rate stood at 2.7%, compared with 2.6% in May 2023, while the total amount of deposits reached €52.3 billion, the CBC said.

According to the CBC, the biggest monthly change in total deposits resulted from other financial intermediaries’ (including investment organizations) deposits, which rose by €248.1 million, those of non-financial corporations, which recorded a net increase of €156.9 million, while household deposits rose by €23.9 million. At the same time, deposits of insurance corporations and pension funds declined by €42.1 million. Loans increased by €123.2 million. 

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