FINANCE: Cypriot bank deposits and loans dip in October

Total deposits and loans in the Cypriot banking system decreased in October, according to Central Bank of Cyprus data.

Total loans in October 2019 decreased by Euros 75 mln, compared with a net increase of Euros 27.6 mln in September.

However, the annual growth rate increased to 1.3%, compared with -1.2% in September 2019.

This was because the decrease of loans was much lower than the respective decrease in October last year, which reached Euros 1.1 bln.

The outstanding amount of total loans reached Euros 34.1 bln in October.

Total deposits in October recorded a net decrease of Euros 158.3 mln, compared with a net increase of Euros 304.1 mln in September.

The annual growth rate was slower at 1.8%, compared with 2.7% in September 2019.

The outstanding amount of deposits reached Euros 48.6 bln in October.

Source: The Financial Mirror