IBU deposits at $3.9 bln

International Banking Units operating in Cyprus had USD 3.9 bln in deposits by end of May 2005 for a 6.4% year-on-year gain on May 2004 figures, while since the start of the year, total deposits at all IBUs are up USD 858.5 mln.

According to figures released by the Central Bank, total advances by all IBUs fell USD 13 mln in May 2005 to USD 4.38 bln compared to May 2004, but since the start are up by USD 249 mln.

Investments booked through the IBUs and mostly referring to investments into Russia, Ukraine, Romania and Bulgaria were flat at USD 3.9 bln compared to a year ago, but are up just under USD 200 mln since the start of the year.

The total balance sheet footings of all the IBUs was marginally higher at USD 14.84 bln compared to a year ago but is up by a whopping USD 2.3 bln since the start of the year, according to the Central Bank figures.