Insider Economy Cyprus deposits down, loans rise in April

Cyprus deposits down, loans rise in April

 

Deposits were down while loans were up in April 2020 according to data the Central Bank of Cyprus published on Friday.

In particular, according to a Central Bank press release total deposits in April this year recorded a net drop of  €37.1 million compared to a net drop of €452.4 million the previous month. The outstanding amount of deposits in April 2020 reached €48.0 billion.

The annual rate of change reached 0.7% compared to 1.2% this March.

According to the Central Bank`s data business deposits fell in April this year by  €110.7 million, to €10.59 billion.

Households deposits were up by €139.1 million, to €28.75 billion.

Total loans in April 2020 presented a net increase of €5.5 million, compared with a  net increase of €62.5 million in March 2020.  The total outstanding amount of loans in April this year reached €33.6 billion.

The annual rate of change reached -4.4%, compared to -4.9% in March 2020.

According to the data, business loans were up by €62.4 million, reaching €16.50 billion.

Households loans on the other hand fell this April by €39.3 million, reaching €14.08 billion.

Consumer loans fell by €35.7 million, €1.72 billion, mortgages were up by €6.2 million reaching €9.47 billion, while other loans recorded a drop of €9.8 million, reaching €2.88 billion.

(CNA)

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