The Central Bank of Cyprus has today released the MFIs deposits and loans statistics for the reference month of January 2021, which are included in the February 2021 edition of Monetary and Financial Statistics.
Total deposits in January 2021 recorded a net decrease of €349,3 million, compared with a net increase of €362,6 million in December 2020. The annual growth rate stood at 0,2%, remaining unchanged compared with December 2020. The outstanding amount of deposits reached €47,9 billion in January 2021.
Total loans in January 2021 recorded a net increase of €2,8 million, compared with a net increase of €583,7 million in December 2020. The annual growth rate stood at 3,1%, compared with 2,7% in December 2020. The outstanding amount of total loans reached €31,8 billion in January 2021.
The Decree for the suspension of loan instalments by the Minister of Finance issued in March 2020, which concerned loans extended from MFIs to households and non-financial corporations amounting to €10,5 billion, ended on 31st December 2020. The new decree issued in January 2021, relates to loans of a much less total value, resulting in a significantly lower impact of loan moratoria on the above changes in loans.