In January, deposits and loans in the Cypriot banking system dropped

According to a study released this week by the Central Bank of Cyprus, deposits and loans in Cyprus fell net in January 2023. (CBC).

According to the report, total deposits decreased by €583.8 million in January 2023, compared to a decrease of €586.3 million in December 2022.

The annual rate of change reached a minus 0.1% in December 2022, compared to a positive 0.4% in December 2022.

Furthermore, the deposit balance in January 2023 was €51.5 billion.

Overall loans decreased by €93.2 million in January 2023, compared to a net rise of €92.1 million in December 2022.

Furthermore, the annual rate of change reached a negative rate of 0.9%, up from a negative rate of 0.2% in December 2022.

Furthermore, the total loan balance in January 2023 was €26 billion.

In addition to the aforementioned, Cypriot households received €1.2 billion in consumer loans and €8.4 billion in home loans in January 2023.

Lastly, non-financial enterprises received loans totaling €10 billion within the same time period.

By fLEXI tEAM