CYPRUS: Deposits down, loans up in August

Total deposits in Cyprus banks dropped by €328 mln in August, compared to a 153.3 mln decrease in July, according to data released by the Central Bank of Cyprus.
The annual growth rate stood at -4.3% compared to -4.6% in July. The outstanding amount of deposits in August was €46.4 bln.
Total loans in August increased to €99.4 mln compared to €435.0 mln in July.
The annual growth rate stood at -3.6% compared to -7.3% in July. The outstanding amount of loans reached in August was €60.3 bln.
According to the data, deposits of domestic residents were reduced in August by €18.7 mln to €32.34 bln, compared to July, while deposits of third country nationals (non-EU) were reduced by €279.4 mln, reaching €11.94 bln.
Deposits of other EU residents recorded a drop by €30 mln, reaching €2.07 bln.
Loans of Cypriot residents dropped in August by €65.3 mln to 49.52 bln, compared to July.
Loans to EU residents were decreased by €1.0 mln, reaching 4.07 bln.
The data showed that loans to residents of third countries increased by €165.7 mln, reaching 6.71 bln.
Loans to households in August dropped by €86 mln to 24.58 bln.