The Central Bank of Cyprus has today released the MFIs deposits and loans statistics for the reference month of May 2021, which are included in the June 2021 edition of Monetary and Financial Statistics. It is noted that the data for the reference month of December 2020 were revised in accordance with the audited financial statements of the MFIs. Therefore, the data for all months from January to May 2021 were subsequently revised accordingly.
Total deposits in May 2021 recorded a net increase1 of €330,1 million, compared with a net increase of €233,1 million in April 2021. The annual growth rate stood at 3,1%, compared with 2,3% in April 2021. The outstanding amount of deposits reached €48,7 billion in May 2021.
Total loans in May 2021 recorded a net decrease of €24,3 million, compared with a net decrease of €76,2 million in April 2021. The annual growth rate stood at 1,3%, compared with 1,6% in April 2021. The outstanding amount of total loans reached €31,3 billion in May 2021.
It should be noted that the suspension of instalments, according to the new Decree for the suspension of loan instalments by the Minister of Finance, issued in January 2021, had a minor upward impact on the above changes in loans. The suspension of instalments was related to loans from MFIs to households and non-financial corporations amounting to €56,9 million.
1) Τhe term "net decrease/increase" represents the term "transactions", i.e. it does not include the changes resulting from reclassifications, exchange rate and other adjustments.