The Central Bank of Cyprus has today released the MFIs deposits and loans statistics for the reference month of October 2023, which are included in the November 2023 edition of Monetary and Financial Statistics.
Total deposits in October 2023 recorded a net decrease1 of €61,0 million, compared with a net increase of €87,7 million in September 2023. The annual growth rate of total deposits stood at 0,7%, compared with 1,6% in September 2023. The outstanding amount of total deposits reached €51,9 billion in October 2023.
Deposits of Cyprus residents exhibited an increase of €16,0 million. More analytically, households’ deposits decreased by €50,8 million, while deposits of non-financial corporations recorded an increase of €126,9 million. Deposits of the remaining domestic sectors exhibited a total decrease of €60,1 million.
Total loans in October 2023 recorded a net decrease of €212,9 million, compared with a net increase of €19,2 million in September 2023. The annual growth rate of total loans stood at -0,3%, compared with a zero annual growth rate in September 2023. The outstanding amount of total loans reached €24,7 billion in October 2023.
Loans to Cyprus residents exhibited a decrease of €139,6 million. More analytically, loans to households increased by €0,7 million, while loans to domestic non-financial corporations recorded a decrease of €124,8 million. Loans to the remaining domestic sectors exhibited a total decrease of €15,5 million.
It should be noted that the November 2023 edition of Monetary and Financial Statistics has been enriched with the publication of the Cypriot contribution to the monetary aggregates of the euro area (Table 7).
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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.