FINANCE Cyprus bank deposits record annual increase of 1.7%

Deposits in monetary credit institutions recorded an increase of 1.7% on an annual basis, data released by the Central Bank of Cyprus show. At the same time loans recorded an annual rate of change of -2.1%.

According to the Central Bank, total deposits in May reached €48.4 bln – from €47.7bln — recording a net increase of €688.3 mln compared to a net increase of €236.9 mln in April 2019.

The annual rate of change came to 1.7%, compared to 0.6% in April 2019.

Total loans in May recorded a net increase of €37.8 mln, compared with a net drop of €206.4 mln in April 2018.

The annual rate of change reached -2.1%, compared to -2.3% in April 2018, while outstanding loans in May 2019 came to €38 bln.