The Central Bank of Cyprus has today released the MFIs deposits and loans statistics for the reference month of January 2016, which are included in the February 2016 edition of Monetary and Financial Statistics.
Total deposits in January 2016 recorded a net increase of €234,5 million, compared with a net increase of €203,0 million in December 2015. The annual growth rate stood at 1,3%, compared with 0,2% in December 2015. The outstanding amount of deposits reached €46,1 billion in January 2016.
Due to loan repayments, total loans in January 2016 exhibited a net decrease of €3.016,3 million, compared with a net increase of €307,7 million in December 2015. These repayments concern previous transfers of loans from non-resident MFIs and are not related to the domestic economic activity. The annual growth rate stood at -7,9%, compared with -3,4% in December 2015. If, however, the effect of the above repayments is removed, the annual growth rate in January 2016 is estimated at -3,2%. The outstanding amount of loans reached €59,5 billion in January 2016.