Cyprus bank deposits down in October

Deposits in the Cyprus banking system in October saw “a slight decrease” of about 400 mln euros, according to data released by the Central Bank of Cyprus.
The central bank said that deposits in domestic financial institutions recorded a decrease of 386.5 mln euros to 70.3 bln euro from 70.7 bln the previous month.
On an annual basis, deposits in October 2012 were up 0.9% in relation to an increase of 1.2% in September of this year and an increase of 3.5% in October 2011.
Loans issued by financial institutions in Cyprus declined in October to 71.4 bln euros from 72.6 bln the previous month and 67.8 bln in October 2011.
On an annual basis, financial institutions’ loans in October 2012 were down by 5.4% compared to a drop of 7% in September and 14.5% in October 2011.