Cyprus bank deposits reach CYP 22.5 bln, loans at CYP15 bln

Total deposits by end of November 2007 jumped 21.1% to CYP 22.52 bln while total loans given by all banking institutions were up 34.2% YoY to CYP 15.09 bln, according to the latest Monetary Survey issued by the Central Bank of Cyprus.

The November Monetary Survey report also reveals that lending in local currency reached CYP 10.92bln, up by 23.5% YoY and 18.7% YTD, whilst foreign currency lending stood at CYP 4.17bln surging by 73.4% YoY and 65.8% YTD.

Personal and professional loans reached CYP 8 bln while loans made to the building and construction sector reached CYP 1.62 bln.

Deposits by residents amounted to CYP 12.76 bln, while non resident deposits amounted to CYP 9.75 bln, bringing the total of all deposits to CYP 22.52 bln by the end of November.

The Central Bank survey also revealed that total deposits with all the Cooperative Credit Societies increased by CYP 550 mln to CYP 5.84 bln by end of November, while total loans made by the Coops were up by CYP 425 mln to CYP 4.38 bln by end of November 2007.