Deposits and loans increased

Deposits and loans in the financial system showed an upward trend in December 2022 according to the data announced by the Central Bank of Cyprus (CBC).

Specifically, deposits in December recorded a net increase of €586.3 million compared to a net decrease of €13.2 million in November 2022.

The annual rate of change touched 0.4% in contrast to -0.1% in November 2022. The balance of deposits last month reached €52.1 billion.

An increase in loans as well

In relation to loans, a net increase of €92.1 million was recorded, as opposed to a net decrease of €19.2 million in November 2022.

The annual rate of change reached 0.2% compared to 0.8% in November 2022. The balance of total loans reached €26.1 billion.

Cypriot deposits reached €43.84 million, up from €43.33 million in November 2022. In December 2022, deposits were €42.35 million.

Regarding deposits from third country residents, they decreased to €5.64 million from €5.71 million in November 2022 and €6.35 million in December 2022.

Deposits from residents of other EU member states also fell, falling to €2.63m from €2.64m in November 2022 and €2.82m in December last year.

Source: stockwatch.com.cy

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