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September saw the highest deposits outflow since July 2013, as total deposits fell by by EUR 850.6 mln, according to Central Bank of Cyprus (CBC) figures.
The outstanding amount of deposits reached EUR 46.0 bln in September pushing the annual growth rate stood to -4.5% compared with -4.3% in August when deposits decreased by EUR 328.1 mln. In particular, deposits of domestic residents dropped in September by EUR 384.3 mln to 32.08 bln, while deposits of third countries residents decreased by EUR 446 mln to 11.81 bln.
Deposits of residents of other EU member states fell by EUR 20.3 mln to 2.07 bln.
Household deposits recorded a decrease of EUR 196.3 mln to 26.87 bln, while enterprises deposits rose by EUR 243.3 mln to 11.26 bln.
Total loans in September showed a net decrease of EUR 157.1 mln, compared with a net increase of 99.4 mln in August. The annual growth rate stood at -2.8% as compared with - 3.6% in August. The outstanding amount of loans reached EUR 59.8 bln in September.
Loans to domestic residents fell by EUR 73.5 mln to 49.57 bln, while loans to residents of EU member states increased by EUR 71.5 mln to 3.60 bln. Loans to third countries residents fell by EUR 155.2 mln, to 6.59 bln. Moreover, loans to households in September decreased by EUR 163.5 mln to 24.42 bln. Consumer loans decreased by EUR 10 mln to 2.91 bln, while mortgage loans decreased by EUR 73.7 mln to 13.59 bln.