Insider Economy Deposits and loans down in October

Deposits and loans down in October

Total deposits and loans in Cyprus’ banks decreased in October 2019, according to data released on Thursday by the Central Bank of Cyprus.

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

However, the annual growth rate increased to 1.3%, compared with -1.2% in September 2019, because the decrease of loans was much lower than the respective decrease in October last year, which reached €1.1 billion. The outstanding amount of total loans reached €34.1 billion in October 2019.

Total deposits in October 2019 recorded a net decrease of €158.3 million, compared with a net increase of €304.1 million in September 2019. The annual growth rate reached 1.8%, compared with 2.7% in September 2019.

The outstanding amount of deposits reached €48.6 billion in October 2019.

(Cyprus News Agency)

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