The flow of deposits in the domestic banking system continued in April for the third month running, according to data released by the Central Bank of Cyprus.
The Bank announced on Wednesday that deposits in domestic financial institutions recorded an increase of 0.5% in April on an annual basis or 816.6 million euro, reaching 71.60 billion euro compared to 70.78 billion in April of 2011.
Deposits increased by 888.2 million euro in April compared to the previous month.
The increase of deposits in April is due to a significant influx of deposits from residents from other EU member states, which were up by 28.6% on an annual basis, reaching 6.13 billion euro.
The annual increase in April follows an increase of 2.3% in March and 0.1% in February.
General government deposits marked a 12.1% annual decrease in April, reaching 529 million euro, whilst at the same a significant increase of 5.9% was recorded on total household deposits reaching 35.77 billion euro.
Domestic deposits were up by 2.1% standing at 26.05 billion euro.
Furthermore, financial institutions increased the amount of credit they gave at the end of April by 5.25 billion euro or 8.2%, reaching a total of 68.51 billion euro in comparison to 63.26 billion euro the same time last year. In March 2012, loans amounted to 67.93 billion euro.
Loans given by financial institutions to domestic residents stood in April 2012 at 52.05 billion euro compared to 49.93 billion euro in April 2011.
Loans to third country residents reached 12.91 billion euro in April 2012 compared to 9.92 billion euro in April 2011 and 12.67 billion euro in March 2012.
Loans to residents of other EU member states came to 3.54 billion euro in April 2012 up from 3.4 billion euro in April 2011 and 3.17 billion euro in March 2012.
In addition, the total of consumer loans came in April 2012 to 3.49 billion euro compared to 3.41 last year and 3.50 billion euro in March, whilst housing loans amounted to 15.60 billion euro up from 14.45 billion euro last year but marginally down from 15.09 billion euro in March 2012.
Cyprus residents increased their consumer loans in April 2012 by 1.2% on an annual basis to a total of 3.36 billion euro compared to 3.32 billion euro in April 2011, remaining however on a similar level with March 2012 at 3.37 billion.
Housing loans increased in April of 2012 on an annual basis by 4.1% to 12.51 billion euro, whilst business loans marked an increase of 6.9%, standing at 24.46 billion euro.
