Deposits continue rising for fifth consecutive month

Deposits in the Cypriot banking system marked a net increase for the fifth consecutive month in July 2021 rising to €49.6 billion.

Loans registered the second net monthly increase in July amounting to €29.7 billion with the liquidity in the system amounting to around €19 billion.

According to data released by the Central Bank of Cyprus, total deposits in July 2021 recorded a net increase (excluding changes resulting from reclassifications, exchange rate and other adjustments) of €52.1 million, compared with a net increase of €432.4 million in June 2021.

The annual growth rate stood at 4.2%, compared with 4.4% in June 2021 with the outstanding amount reaching €49.6 billion in July 2021, CBC said.

Furthermore, total loans in July 2021 recorded a net increase of €107.4 million, following a net increase of €244.2 million in June 2021.

The annual growth rate stood at 1.5%, compared with 1.3% in June 2021, while the outstanding amount reached €29.7 billion in July 2021.