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Deposits in Cyprus Banks at The Highest Level of the Last 11 Months, While Loans Remain Low
September 27, 2019
Total deposits in Cyprus banking system reached their highest level in the past eleven months in August 2019, according to figures released by the Central Bank of Cyprus (CBC) on Thursday, while loans remained at historically low levels, despite a net increase in the eighth month of this year.
Household loans declined by almost €6 billion in August 2019 and loans to non-financial corporations by almost €5 billion, the CNA reports.
Total deposits in August 2019 recorded a net decrease of €61.4 million, compared with a net increase of €201.9 million in July 2019 and reached €48.5 billion. This is the highest level of deposits since September 2018. The annual growth rate reached 1.6%, compared with 2.1% in July 2019.