Deposits in the Cyprus banking system declined by Euros 343 million in January

Total deposits in the Cyprus banking system amounted to Euros 47.5 billion in January marking a net reduction of Euros 342.7 million compared to December, data released by the Central Bank of Cyprus (CBC) show.

Deposits in dollars declined by Euros 171 million in January with the deposits amounting to Euros 5,9 billion. Deposits in euro declined by Euros 164 million with the outstanding amount totaling Euros 40.5 billion.

Furthermore, total loans in January exhibited a net increase of Euros 115 million, compared with a net increase of Euros 166,8 million in December 2018. The outstanding amount of loans reached Euros 39,3 billion in January 2019, the CBC said.

According to the CBC data, the increase is mainly due to corporate loans which rose by Euros 111 million reaching Euros 18.25 billion.

Total household loans in January amounted to Euros 15 billion, marking an increase of Euros 19 million compared with December 2018. Housing loans in January amounted to Euros 9.7 billion, consumer loans Euros 1.9 billion and other household loans reached Euros 3.6 billion.

Source: Cyprus News Agency