Deposits increase, while loans decline on annual basis in January

Deposits in the banking system presented a significant annual increase in the first month of the year, the Central Bank of Cyprus reported Tuesday, in the February 2018 edition of Monetary and Financial Statistics, while total loans recorded a significant decline.

The Central Bank said that total deposits in January 2018 recorded a net decrease of Euros 557,9 million, compared with a net increase of Euros 259,0 million in December 2017.

The annual growth rate was 1.7%, compared with 3.1% in December 2017.

The outstanding amount of deposits reached Euros 48,6 billion in January 2018.

Total loans in January 2018 increased by Euros 53,0 million, compared with a net increase of Euros 2,2 million in December 2017.

The annual growth rate stood at -1.5%, compared with -1.7% in December 2017.

The outstanding amount of total loans reached Euros 51,1 billion in the first month of 2018.

Source: Cyprus News Agency