Deposits increase by 237 million in April

Total deposits in April 2019 recorded a net increase of Euros 236,9 million, amounting to Euros 47.7 billion, figures released by the Central Bank of Cyprus (CBC) show.

In March 2019, total deposits marked a reduction of 327.7 million, CBC said.

The annual growth rate declined to 0,6%, compared with 5,1% in March 2019, because the increase of deposits was much lower than the respective increase in April last year.

In April 2018 total deposits increased by Euros 2,4 billion, due to a Euros 2,5 billion deposit billion by the Cyprus Government with the Cyprus Cooperative Bank.

Furthermore, total loans in April 2019 exhibited a net decrease of Euros 206.4 million, compared with a net increase of Euros 63,2 million in March 2018.

The annual growth rate stood at -2,3%, compared with -2,0% in March 2018.

The outstanding amount of total loans reached Euros 38,0 billion in April 2019, CBC added.

Source: Cyprus News Agency