FINANCE: Cyprus bank deposits increased 2.7% to EUR 48.9 bln in September

Total deposits in Cyprus banks recorded a net increase of €304.1 mln in September compared with a net decrease of €61.4 mln in August.

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The annual growth rate reached 2.7% from 1.6% in August 2019 with the amount of deposits reaching €48.86 bln in September from €48.45 bln, according to Cyprus Central Bank data.

Cypriot deposits were €38.62 bln from €38.59 bln, third country nationals €7.21 bln and eurozone nationals held €6.02 bln

Total loans in September 2019 showed a net increase of €20.1 mln, compared with a net increase of €177.6 mln in August.

The annual growth rate stood at -1.2%, compared with -1.3% in August with the total number of loans reaching €34.3 billion last month.                                         

Loans to Cypriots increased 0.9% on an annual basis from 0.8% in August, consumer loans and mortgages showed slower growth while business loans increased 1% in September from 0.9% the month before.