Bank deposits reach new year-low
Total deposits in June fell by EUR 398.3 mln to EUR 45.8 bln, the lowest level of the year, according to data published by the Central Bank of Cyprus.
The annual growth rate stood at -5.5%, as compared with -5.4% in May, when deposits showed a net decrease of EUR 213.6 mln.
The outstanding amount of loans reached EUR 62.6 bln in June. Total loans saw a net increase of EUR 453.4 mln, as compared with a net decrease of EUR 7.6 mln in May. The annual growth rate stood at -1.9%, unchanged from May.
The Central Bank’s data showed that deposits of people living in Cyprus were reduced in June to EUR 32 bln, while deposits of third country nationals were down to EUR 11.35 bln.
Deposits of citizens of other Eurozone countries increased