The Central Bank of Cyprus has today released the MFIs deposits and loans statistics for the reference month of June 2021, which are included in the July 2021 edition of Monetary and Financial Statistics.
Total deposits in June 2021 recorded a net increase1 of €432,4 million, compared with a net increase of €330,1 million in May 2021. The annual growth rate stood at 4,4%, compared with 3,7% in May 2021. The outstanding amount of deposits reached €49,5 billion in June 2021.
Total loans in June 2021 recorded a net increase of €244,2 million, compared with a net decrease of €24,3 million in May 2021. Nevertheless, the outstanding amount of loans decreased by €1,6 billion in June 2021 and reached €29,7 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 1,3%, remaining unchanged compared with May 2021.
It should be noted that the suspension of instalments, according to the second 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 €58,2 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.