Deposits in the Cyprus banking system decline by Euros 745 million in June 2018

Deposits in the Cyprus banking system declined by Euros 745 million to Euros 50.2 billion in June 2018 compared with a net increase of Euros 201,2 million the previous month, Central Bank of Cyprus (CBC) said on Thursday.

According to the monthly data issued by the CBC, the annual growth rate amounted to 3.9%, compared with 4.6% in May 2018.

The outstanding amount of deposits amounted to Euros 50.2 billion, the CBC added.

Furthermore, total loans in June 2018 exhibited a net increase of Euros 305.2 million, compared with a net decrease of Euros 66.8 million in May 2018.

Nevertheless, the CBC said, the outstanding amount of loans decreased by Euros 2.1 billion in June 2018, declining to Euros 46.7 billion, due to reclassification, revaluation, exchange rate or other adjustments.

The annual growth rate stood at -1.1%, compared with -1.8% in May 2018, the CBC said.

Source: Cyprus News Agency