Total deposits in February recorded a significant net increase by pound 65.4 million following a decrease of pound 366.0 million in the previous month, while loans recorded a large net increase of pound 348.9 million after a net decrease of pound 122.9 million recorded in January 2024.
According to the Central Bank of Cyprus, which released on Thursday the Monetary Financial Institutions (MFIs) deposits and loans statistics for February 2024 -which are included in the March 2024 edition of Monetary and Financial Statistics-, total deposits in February 2024 recorded a net increase of pound 65,4 million, compared with a net decrease of pound 366,0 million in January 2024.
It adds that the annual growth rate of total deposits stood at 0.3%, compared with 0.8% in January 2024. The outstanding amount of total deposits reached pound 52,0 billion in February 2024.
Deposits of Cyprus residents, it notes, exhibited an increase of pound 101,8 million. More analytically, households’ deposits increased by pound 41,2 m
illion, while deposits of non-financial corporations recorded a decrease of pound 63,0 million. Deposits of the remaining domestic sectors exhibited a total increase of pound 123,7 million.
Total loans in February 2024 recorded a net increase of pound 348,9 million, compared with a net decrease of pound 122,9 million in January 2024. The annual growth rate of total loans stood at 1.5%, compared with 0.4% in January 2024. The outstanding amount of total loans reached pound 25,0 billion in February 2024.
The CBC says that loans to Cyprus residents exhibited an increase of pound 77,9 million. More analytically, loans to households decreased by pound 3,9 million, while loans to non-financial corporations recorded an increase of pound 60,6 million. Loans to the remaining domestic sectors exhibited a total increase of pound 21,2 million, the CBC concludes.
Source: Cyprus News Agency