The Central Bank of Cyprus has today released the MFIs deposits and loans statistics for the reference month of September 2020, which are included in the October 2020 edition of Monetary and Financial Statistics. It is noted that the data for the reference month of December 2019 were revised in accordance with the audited financial statements of the MFIs. Therefore, the data for all the months from January to August 2020 were also revised accordingly.
Total deposits in September 2020 recorded a net increase of €36,2 million, compared with a net increase of €366,5 million in August 2020. The annual growth rate stood at -0,6%, compared with a zero annual growth rate in August 2020. The outstanding amount of deposits reached €48,0 billion in September 2020.
Total loans in September 2020 recorded a net increase of €218,1 million, compared with a net decrease of €60,7 million in August 2020. The annual growth rate stood at -3,8%, compared with -4,4% in August 2020. The outstanding amount of total loans reached €31,9 billion in September 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.