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Bank deposits increased to €51.2 bln

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Cyprus bank deposits in November increased 5.8% annually while loans decreased, according to Central Bank data.

According to the data, total deposits in November recorded a net increase of €480.8 mln, compared with a net increase of €279.6 mln in October.

The annual growth rate stood at 5.8%, compared with 5.3% in October 2021.

The outstanding amount of deposits reached €51.2 bln last month.

Total loans in November recorded a net decrease of €3.9 mln, from a net decrease of €15.7 mln in October.

The annual growth rate stood at 1.4%, compared with 1.3% in October 2021.

As a result, the outstanding amount of total loans reached €29.6 bln.