On Friday, November 26, the Central Bank of Cyprus published new statistics on deposits and loans of financial institutions for October.
According to recent data, an influx of deposits was registered in the Cypriot banking system. And this trend has been observed for the eighth month. On the other hand, the number of loans issued, on the contrary, decreased.
The total amount of funds on deposit accounts in Cyprus banks in October 2021 increased by 279.6 million euros compared to 8.0 million euros increase in the previous month. The annual rate reached 5.3% compared to 4.4% in September 2021. The total amount of funds placed on deposit accounts in Cypriot banks amounted to 50.5 billion euros.
Deposits of Cypriot citizens increased to 41.4 billion euros from 41.2 billion euros in September, deposits of other Europeans fell to 2.80 billion euros from 2.81 billion euros, deposits of third nationals in September 2021 amounted to 6.28 billion euros compared to 6.25 billion euros a month earlier.
As for the total amount of loans, there is a net decrease of 15.7 million euros compared to a net increase of 27.1 million euros in September 2021. The annual rate of change reached 1.3% compared to 1.5% in September 2021. The total balance of loans in October 2021 reached 29.6 billion euros.
Consumer loans to Cypriots increased by 2.1%, housing loans increased by 5.3%, and loans to businesses - by 3.8%.
As a result of a significant increase in deposits and a reduction in loans, the liquidity of the Cyprus banking system exceeded 20 billion euros, reaching 21 billion euros.