Deposits in the Cypriot banking system rose by pound 435.8 million in September reaching pound 54 billion. Furthermore, according to data released by the Central Bank of Cyprus (CBC) total loans rose to pound 25 billion, with the total liquidity in the banking system (the difference between deposits and loans) amounting to pound 29 billion.
According to the CBC, the rise in deposits in September was mainly driven by corporate deposits which rose by pound 367.9 million, whereas household deposits increased by pound 112.8 million. Deposits of the remaining domestic sectors exhibited a total decrease ?f pound 44.9 million.
The total deposits’ annual growth rate amounted to 4.5%, compared with 3.8% in August 2024, the CBC added.
Total loans in September 2024 recorded a net (excluding changes resulting from reclassifications, exchange rate and other adjustments) increase of pound 107.3 million, compared with a net decrease of pound 74.9 million in August 2024.
The annual growth rate of total loans stood at 2.
0% in September, compared with 1.7% in August 2024, with the outstanding amount of total loans reaching pound 25.0 billion.
Loans to Cyprus residents observed an increase of pound 39.4 million.
According to the CBC, loans to households increased by pound 27.7 million, while loans to non-financial corporations recorded a decrease of pound 11.2 million.
Loans to the remaining domestic sectors exhibited a total increase of pound 22.9 million.
Source: Cyprus News Agency