Cyprus reports €133.1 million increase in March loans

In March, both total deposits and loans saw an upward trend, with liquidity (the difference between loans and deposits) exceeding €27 billion, according to statistics on deposits and loans from Monetary Financial Institutions published today by the Central Bank of Cyprus.

According to data for March 2024, total deposits in March 2024 showed a net increase (transactions excluding changes resulting from reclassifications, exchange rate adjustments, and other readjustments) of €252.1 million, compared to a net increase of €63.2 million in February 2024.

The annual rate of change in total deposits reached 0.6%, compared to 0.3% in February 2024.

Deposits from residents of Cyprus increased by €318.5 million. Specifically, deposits from households and non-financial corporations increased by €70.3 million and €158.8 million, respectively.

Deposits from other domestic sectors (investment organizations, other financial intermediaries, auxiliary financial institutions and bodies, subsidiaries of financial organizations and money lenders, insurance companies, pension funds, and general government) also increased, reaching €89.3 million.

The balance of total deposits in March 2024 reached €52.2 billion, according to the Central Bank of Cyprus.

Meanwhile, total loans in March 2024 recorded a net increase of €133.1 million, compared to a net increase of €348.9 million in February 2024.

The annual rate of change in total loans reached 1.8%, compared to 1.5% in February 2024. The balance of total loans in March 2024 reached €25.1 billion.

According to the Central Bank of Cyprus, loans to residents of Cyprus increased by €134.0 million, with loans to households decreasing by €1.0 million, while loans to non-financial corporations recorded an increase of €138.1 million.

Loans to other domestic sectors showed an overall decrease of €3.1 million.

[With information sourced from CNA]