CYPRUS: Deposits outflow peaks at highest in 14 months

September saw the highest deposits outflow since July 2013, as total deposits fell by by €850.6 mln, according to Central Bank of Cyprus (CBC) figures.

The outstanding amount of deposits reached €46.0 bln in September pushing the annual growth rate stood to -4.5% compared with -4.3% in August when deposits decreased by €328.1 mln.
In particular, deposits of domestic residents dropped in September by €384.3 mln to 32.08 bln, while deposits of third countries residents decreased by €446 mln to 11.81 bln.
Deposits of residents of other EU member states fell by €20.3 mln to 2.07 bln.
Household deposits recorded a decrease of €196.3 mln to 26.87 bln, while enterprises deposits rose by €243.3 mln to 11.26 bln.
Total loans in September showed a net decrease of €157.1 mln, compared with a net increase of 99.4 mln in August. The annual growth rate stood at -2.8% as compared with -3.6% in August. The outstanding amount of loans reached €59.8 bln in September.
Loans to domestic residents fell by €73.5 mln to 49.57 bln, while loans to residents of EU member states increased by €71.5 mln to 3.60 bln. Loans to third countries residents fell by €155.2 mln, to 6.59 bln.
Moreover, loans to households in September decreased by €163.5 mln to 24.42 bln.
Consumer loans decreased by €10 mln to 2.91 bln, while mortgage loans decreased by €73.7 mln to €13.59 bln.