Insider Economy Deposits in the Cyprus banking system declined by €343 million in January

Deposits in the Cyprus banking system declined by €343 million in January

Total deposits in the Cyprus banking system amounted to €47.5 billion in January marking a net reduction of €342.7 million compared to December, data released by the Central Bank of Cyprus (CBC) show.

Deposits in dollars declined by €171 million in January with the deposits amounting to €5,9 billion. Deposits in euro declined by €164 million with the outstanding amount totaling €40.5 billion.

Furthermore, total loans in January exhibited a net increase of €115 million, compared with a net increase of €166,8 million in December 2018. The outstanding amount of loans reached €39,3 billion in January 2019, the CBC said.

According to the CBC data, the increase is mainly due to corporate loans which rose by €111 million reaching €18.25 billion.

Total household loans in January amounted to €15 billion, marking an increase of €19 million compared with December 2018. Housing loans in January amounted to €9.7 billion, consumer loans €1.9 billion and other household loans reached €3.6 billion.

(Cyprus News Agency)

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