Deposits in the Cypriot banking system rose by almost €590 million in December 2022 with total deposits in end-2022 amounting to €52 billion.
Total loans rose for the first time following five consecutive months in December amounting to €26.1 billion, with total liquidity in the banking system amounting to €26 billion.
According to data published by the Central Bank of Cyprus (CBC), total deposits in December 2022 recorded a net (excluding changes resulting from reclassifications, exchange rate and other adjustments) increase of €586.3 million, compared with a net decrease of €13.2 million in the previous month.
The annual growth rate stood at 0.4%, compared with -0.1% in November 2022, the CBC added.
Total loans in December 2022 recorded a net increase of €92.1 million, compared with a net decrease of €19.2 million in November 2022, with the annual growth rate amounting to -0.2%, compared with 0.8% in November 2022.
The outstanding amount of total loans reached €26.1 billion in December 2022, the CBC added.