FINANCE: Cyprus bank deposits increased 2.7% to EUR 48.9 bln in September

Total deposits in Cyprus banks recorded a net increase of Euros 304.1 mln in September compared with a net decrease of Euros 61.4 mln in August.

The annual growth rate reached 2.7% from 1.6% in August 2019 with the amount of deposits reaching Euros 48.86 bln in September from Euros 48.45 bln, according to Cyprus Central Bank data.

Cypriot deposits were Euros 38.62 bln from Euros 38.59 bln, third country nationals Euros 7.21 bln and eurozone nationals held Euros 6.02 bln

Total loans in September 2019 showed a net increase of Euros 20.1 mln, compared with a net increase of Euros 177.6 mln in August.

The annual growth rate stood at -1.2%, compared with -1.3% in August with the total number of loans reaching Euros 34.3 billion last month.

Loans to Cypriots increased 0.9% on an annual basis from 0.8% in August, consumer loans and mortgages showed slower growth while business loans increased 1% in September from 0.9% the month before.

Source: The Financial Mirror