News Local €13 billion in deposits moved from Cypriot banks since 2011

€13 billion in deposits moved from Cypriot banks since 2011

Thirteen billion euro in foreign deposits were removed from Cypriot banks since 2011, according to Central Bank figures.

In 2018, there were €7,26 billion deposited in Cypriot banks from non-Cypriots. This is €12.93 billion less than 2011, when €20.19 billion in Cypriot banks belonged to non-Cypriots.

Deposits from Russian nationals have decreased significantly. Since January 2018, Russians have moved €1.5 billion in deposits from Cyprus.

Today, they make up just 2% of Cypriot banks’ clients.

Deposits from EU citizens have also decreased from €5.35 billion in 2011 to €2.,25 billion in 2018. Since the start of 2018, EU citizens have moved €95 million in deposits.

Total deposits in October 2018 showed a net increase of €299.7 million, compared with a net decrease of €230.4 million in September 2018. The balance of deposits in October 2018 reached €47.8 billion.

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