CYPRUS: Deposits and loans in Banks decrease in July

Total deposits in Cyprus Banks in July 2014 exhibited a net decrease of €153,3 million, as compared with a net decrease of €370,3 million in June 2014, according to data released Thursday by the Central Bank of Cyprus (CBC). The annual growth rate stood at -4,6% as compared with -5,7% in June 2014. The outstanding amount of deposits reached €46,6 billion in July 2014.

Total loans in July 2014 exhibited a net decrease of €435,0 million, as compared with a net increase of €438,7 million in June 2014. The annual growth rate stood at -7,3% as compared with -8,4% in June 2014. The outstanding amount of loans reached €61,1 billion in July 2014.
According to the data from CBC, deposits of domestic residents, fell in July 2014 by € 195 million, to € 32,23 billion compared with the previous month, while deposits of third countries residents increased by € 247 million, to € 11,139 billion. Deposits of euro area residents decreased by €12 million, to € 2,103 billion.

Household deposits recorded a reduction of €39 million to € 27,162 billion. Deposits of non-financial corporations decreased by €5 euro to € 11,463 billion.

Loans of domestic residents fell in July 2014 by € 64 million to € 49,541, compared with the previous month.

Loans to euro area residents fell by € 163 million to € 4,059 billion, while loans to residents of third countries fell by € 144 million, reaching 7.475 billion.

Furthermore, loans to households decreased in July 2014 by € 113 million, to € 24,653 billion. Consumer loans decreased by € 22 million, to € 3,029 billion, while housing loans decreased by €64 million to €13,697 billion. Other lending decreased by €28 million, to € 7,926 billion. Loans to non – financial corporations fell in July 2014 at € 179 million, to € 27,867 billion.