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Deposits in January 2022 decline for the first time following a ten-month rise

25/02/2022 16:40

Deposits in the Cyprus banking system in January 2022 declined by €341.8 million, marking the first net (excluding changes resulting from reclassifications, exchange rate and other adjustments) reduction in ten months, data released by the Central Bank of Cyprus show.

The annual growth in January amounted to 5.8%, with total deposits amounting to €51.3 billion, the CBC said.

Furthermore, total loans exhibited a net increase of €107.1 million, registering net growth for a second consecutive month with outstanding value of loans amounting to €28.5 billion.

According to CBC data, the liquidity in the banking system amounted to €22.8 billion in January 2022.