Cypriot bank deposits and loans dip in October

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Total deposits and loans in the Cypriot banking system decreased in October, according to Central Bank of Cyprus data.

Total loans in October 2019 decreased by €75 mln, compared with a net increase of €27.6 mln in September.

However, the annual growth rate increased to 1.3%, compared with -1.2% in September 2019.

This was because the decrease of loans was much lower than the respective decrease in October last year, which reached €1.1 bln.

The outstanding amount of total loans reached €34.1 bln in October.

Total deposits in October recorded a net decrease of €158.3 mln, compared with a net increase of €304.1 mln in September.

The annual growth rate was slower at 1.8%, compared with 2.7% in September 2019.

The outstanding amount of deposits reached €48.6 bln in October.