Cyprus IBU loans at $8bln, depos $7.5bln

Total advances by International Banking Units operating from Cyprus amounted to $7.99 bln by end of October 2007, up $2.1 bln in the first ten months of the year and $327 mln compared to September 2007 according to the Monetary Survey of the Central Bank of Cyprus compiled by the Financial Mirror.

Total investments booked through all the IBUs was stable at $11.9 bln, about the same compared to September 2007, but still up by $1.9 bln since the beginning of 2007.

Customer deposits placed with all the IBUs amounted to $7.5 bln by end of October 2007, slightly down from September’s $7.59 bln figure but up by $3 bln since the start of 2007.

The total balance sheet footing of all the IBUs, formerly known as offshore banks reached $35.3 bln by end of 2007, up by $10.7 bln since the start of 2007.