The details of the Central Bank of Cyprus
Both deposits and loans decreased in July 2023 after their increase in the previous two months.
According to data published on Monday by the Central Bank of Cyprus (CBC ), total deposits in July 2023 recorded a net decrease of €301.1 million, compared to a net increase of €399.2 million in June 2023.
The decrease in deposits is mainly due to the net decrease of €227.9 in domestic residents' deposits. Household deposits decreased by €74.7 million.
On the contrary, an increase of €184.3 million was recorded in the deposits of the General Government thus limiting the decrease recorded in the total deposits.
The annual rate of change reached 2.4%, compared to 2.7% in June 2023, while the balance of deposits in July 2023 decreased to € 51.9 billion.
Moreover, total loans in July 2023 recorded a net decrease of €100.3 million, compared to a net increase of €123.2 million in June 2023, mainly due to the decrease of loans to domestic residents by €109.9 million. An increase of €9.2 million was noted in loans to residents of other participating EU member states.
In relation to domestic residents, a decrease of €127.3 million was noted in company loans, while an increase of €16.1 million was recorded in total household loans, which include consumer, housing and other loans.
Of the loans of of households, according to CBC data, an increase was recorded in consumer and housing loans by €15 and €10.7 million respectively, while a decrease by €9.6 million was recorded in other household loans.
< p class="text-paragraph">The annual rate of change reached -1.0%, compared to -1.2% in June 2023.
The remainder of of total loans in July 2023 reached €25.0 billion.
