The Central Bank of Cyprus has today released the MFIs deposits and loans statistics for the reference month of August 2020, which are included in the September 2020 edition of Monetary and Financial Statistics.
Total deposits in August 2020 recorded a net increase of €366,5 million, compared with a net increase of €105,6 million in July 2020, exhibiting a zero annual growth rate, compared with -0,9% in July 2020. The outstanding amount of deposits reached €47,9 billion in August 2020.
Total loans in August 2020 recorded a net decrease of €60,7 million, compared with a net increase of €66,9 million in July 2020. The annual growth rate stood at -4,4%, compared with -3,7% in July 2020. The outstanding amount of total loans reached €31,8 billion in August 2020. It should be noted that the suspension of instalments, according to the Decree for the suspension of loan instalments by the Minister of Finance, had an 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 €10,4 billion.