The Central Bank of Cyprus has today released the MFIs deposits and loans statistics for the reference month of January 2024, which are included in the February 2024 edition of Monetary and Financial Statistics.
Total deposits in January 2024 recorded a net decrease1 of €366,0 million, compared with a net increase of €346,0 million in December 2023. The annual growth rate of total deposits stood at 0,8%, compared with 0,4% in December 2023. The outstanding amount of total deposits reached €51,9 billion in January 2024.
Deposits of Cyprus residents exhibited a decrease of €273,1 million. More analytically, deposits of households and non-financial corporations decreased by €28,9 million and €206,5 million respectively. Deposits of the remaining domestic sectors2 also exhibited decrease, which stood at €37,7 million.
Total loans in January 2024 recorded a net decrease of €122,9 million, compared with a net increase of €284,2 million in December 2023. The annual growth rate of total loans stood at 0,4%, compared with 0,7% in December 2023. The outstanding amount of total loans reached €24,7 billion in January 2024.
Loans to Cyprus residents exhibited a decrease of €44,8 million. More analytically, loans to households increased by €3,4 million, while loans to non-financial corporations recorded a decrease of €19,1 million. Loans to the remaining domestic sectors2 exhibited a total decrease of €29,1 million.
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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.
2) The remaining domestic sectors include investment funds, other financial intermediaries, financial auxiliaries, captive financial institutions and money lenders, insurance corporations and pension funds and general government.