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Clarifications on the data for loans and deposits for June 2013

Friday, 26 July 2013

The data for loans and deposits for June 2013 reflect the provisions of the “Sale of Certain Operations of Cyprus Popular Bank Public Co Ltd Decree of 2013” and the absorption of the said operations by the Bank of Cyprus Public Company Ltd. It should be noted that as from June 2013 Cyprus Popular Bank Public Co Ltd is not considered a Monetary Financial Institution for statistical purposes. Therefore, the balances which were not transferred to Bank of Cyprus Public Company Ltd are no longer included in the aggregated data. More specifically, the decline in total deposits of the order of €5,3 billion observed in June 2013 as compared to May 2013, includes an amount of the order of €3,8 billion which is related to the deposits remaining in Cyprus Popular Bank Public Co Ltd.