Bank deposits in Cyprus down by €956.2 mn in July

Deposits in the Cypriot banking system in July registered a monthly drop of €956,2 million to €49,74 billion compared with €50,69 billion in June and compared with deposits of €70,56 billion in July 2012.

According to figures released by the Central Bank of Cyprus, deposits outflow reached €956,2 million, compared with the reduction of €1,5 billion in June 2013.

Deposits declined on an annual basis by 24.2% in July 2013.

Domestic resident deposits reached €34,14 billion reduced by €809 million compared with June, whereas deposits of residents of other Eurozone member states dropped by €85 million to €2,61 billion and deposits of residents coming from third countries (non EU countries) registered a reduction of €61,4 million to €12,98 billion.

General government deposits decreased at €358 million compared with €367 million in June.

On an annual basis, general government deposits registered a reduction of 23.6%.

Company deposits in July declined to €12,04 billion from €12,58 billion in June and declined by 35.8% compared with July 2012.

Household deposits declined by €506 million to €30.93 billion, whereas compared with May 2012 household deposits declined by 15.3%.

Domestic household deposits reached €28,40 billion, and compared with a year earlier they declined by 18.8%.

Total loans also decreased at €66,28 billion compared with €67,79 in June.
Total loans compared with July 2012 declined by 7.8%.

Loans to domestic residents dropped by €543 million to €51,80 compared with June, whereas compared with a year earlier they declined by 3%.

Loans to residents from other Eurozone member-states declined to €3.5 billion compared with June’s €4 billion.

Loans to residents from non EU countries reached €10,91 billion compared with June’s €11,36 billion and €14,32 billion in July 2012.

Consumer loans reached €3,25 billion compared with €3,27 in June, whereas compared with July 2012 they recorded a decrease of 7.9%.

Housing loans also declined to €14,06 billion compared with €14,18 in June and recorded an annual decrease of 3.7%.

Loans to businesses reached €29,76 billion, reduced by  €626 million compared with a month earlier, whereas they declined by 11.2% compared with July 2012.