The Central Bank of Cyprus has released the publication “Monetary and Financial Statistics” for the reference month of April. The data reflect the provisions of the “Bailing-in of Bank of Cyprus Public Company Limited Decree of 2013”.
Specifically, total deposits declined by €2,8 billion as a result of the conversion of 37,5% of unsecured deposits into equity.
Taking account of this, the real decrease in deposits in April 2013 amounted to €3.545,8 million out of the reported total of €6.345,8 million in terms of net monthly transactions, following a decrease of €3.751,6 million in March 2013. Total deposits at the end of April 2013 amounted to €57,4 billion, exhibiting a decline of 19,9% on an annual basis as compared with a decrease of 9,9% in March 2013 and 0,5% increase in April 2012.
Moreover, total loans in April 2013 decreased by €1.462,4 million in terms of net monthly transactions, compared with a decrease of €1.977,8 million in March 2013, and stood at €68,4 billion, exhibiting a deceleration of growth to 1,2% on an annual basis, as compared with 3,8% in March 2013 and 8,2% in April 2012.