Loans-to-de­posits ra­tio widens in Dec 2014

Financial Mirror (Cyprus) - - FRONT PAGE -

The loans-to-de­posits ra­tio of the is­land’s bank­ing sys­tem widened in De­cem­ber, the first month that the Cen­tral Bank of Cyprus is­sued mon­e­tary statis­tics on the ba­sis of the new reg­u­la­tions and the guide­line of the Euro­pean Cen­tral Bank.

The monthly Mon­e­tary Fi­nan­cial In­sti­tu­tions (MFIs) Loans and De­posits Statis­tics showed that to­tal de­posits in De­cem­ber 2014 rose EUR 138.1 mln, com­pared to a net in­crease of EUR 86.6 mln in Novem­ber 2014, for a to­tal of EUR 46.1 bln.

The year-on-year growth rate stood at -4.0% com­pared with -4.4% y-o-y in Novem­ber 2014.

Res­i­dents de­posits, ac­cord­ing to CBC data, rose in De­cem­ber by EUR 107.1 mln to 32.3 bln. De­posits of third coun­tries res­i­dents also in­creased by EUR 4.1 mln to 11.8 bln. De­posits of res­i­dents of other EU mem­ber states rose by EUR 26.9 mln to 1.95 bln. House­hold de­posits rose by EUR 329.6 mln to 22.3 bln, while cor­po­rate de­posits fell by EUR 144.8 mln to 5.43 bln.

To­tal loans in De­cem­ber 2014 saw a net in­crease of EUR 505.3 mln, com­pared to a net in­crease of EUR 7.7 mln in Novem­ber. The year-on-year growth rate stood at -1.4% as com­pared with -2.4% y-o-y in Novem­ber 2014.

Res­i­dents loans grew in De­cem­ber by EUR 766.5 mln, to­talling 49.6 bln, while loans to res­i­dents of EU mem­ber states dropped by EUR 390.9 mln to 3.1 bln. Loans to third coun­try res­i­dents in­creased by EUR 129.7 mln to 8.8 bln.

The out­stand­ing amount of loans reached EUR 61.6 bln in De­cem­ber 2014, the cen­tral bank statis­tics said, with the amount of non-per­form­ing loans (NPLs) stub­bornly at 51% of the sys­tem’s loan­book in Novem­ber. Re­cent data sug­gested that so far only EUR 3.1 bln of NPLs had been restruc­tured.

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