Cyprus sees decline in total deposits and loans

Total deposits in April 2023 recorded a net decrease of €173.3 million, compared with a net increase of €59.8 million in March 2023, the Central Bank of Cyprus said in a press release.

The CBC released on Tuesday the Monetary Financial Institutions (MFIs) deposits and loans statistics for the reference month of April 2023, which are included in the May 2023 edition of Monetary and Financial Statistics.

It says that total deposits in April 2023 recorded a net decrease of €173.3 million, compared with a net increase of €59.8 million in March 2023. The annual growth rate stood at 1.9%, compared with 2.6% in March 2023. The outstanding amount of deposits reached €51.6 billion in April 2023.

Total loans in April 2023 recorded a net decrease of €130.9 million, compared with a net increase of €41.9 million in March 2023. The annual growth rate stood at -1.3%, compared with -0.5% in March 2023. The outstanding amount of total loans reached €24.9 billion in April 2023, the press release concludes.