Insider Economy Deposits in Cyprus banking system at €48.5 billion in January 2020

Deposits in Cyprus banking system at €48.5 billion in January 2020

Deposits in the Cypriot banking system in January 2020 amounted to €48.5 billion whereas loans were €33.6 billion, according to data released on Thursday by the Central Bank of Cyprus.

Total deposits marked a net reduction of €311.9 million in January following a net increase of €295.8 million the previous month.

Compared with January 2019, deposits marked an increase of 2% compared with an annual increase of 1.9% in December 2019, Central Bank said.

Deposits worth of €6.52 billion were held in US dollars, with deposits in British pound amounted to €742. Deposits in Swiss Frank amounted to 47.6 million and in Japanese Yen €11.5 ml.

Deposits held by households amounted to €28.7 billion, with corporate deposits at €11 billion. Deposits held by other financial intermediaries amounted to €6.23 bl, while general government’s deposits amounted to €1 bl.

Deposits held by domestic residents amounted to €39 bl, deposits by non-EU citizens amounted to €6.67 bl while EU citizens deposits in Cyprus reached €2.8 billion, Central Bank added.

Total loans recorded a net reduction €119 million, reaching €33.6 billion, marking a reduction of 4.9% compared with January 2019.

Corporations held the lion’s share of the loans with €16.48 bl, followed by household loans with €14 billion.

(Cyprus News Agency)

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