The Central Bank of Cyprus has today released the MFIs deposits and loans statistics for the reference month of May 2020, which are included in the June 2020 edition of Monetary and Financial Statistics.
Total deposits in May 2020 recorded a net decrease of €30,8 million, compared with a net decrease of €37,1 million in April 2020. The annual growth rate decreased to -0,8%, compared with 0,7% in April 2020. The outstanding amount of deposits reached €47,8 billion in May 2020.
Total loans in May 2020 exhibited a net increase of €35,2 million, compared with a net increase of €5,5 million in April 2020. Nevertheless, the outstanding amount of loans decreased by €887,1 million in May 2020 and reached €32,7 billion. The difference between the net change and the change of the outstanding amount of loans is attributed to reclassification, revaluation, exchange rate or other adjustments. The annual growth rate stood at -4,4%, remaining unchanged compared with April 2020. It should be noted that the above changes in loans were positively affected by the suspension of instalments related to loans to households and non-financial corporations amounting to €9,8 bil., according to the Decree for the suspension of loan installments by the Minister of Finance.
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