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Total deposits and loans record increase in December 2020

01/02/2021 06:13

Total deposits in December 2020 recorded a net increase of €362.6 million, compared with a net increase of €190.9 million in November 2020.

According to the Central Bank of Cyprus Monetary Financial Institutions (MFIs) Deposits and Loans Statistics for December 2020, issued on Friday, which are included in the January 2021 edition of Monetary and Financial Statistics, the annual growth rate stood at 0.2%, compared with 0.1% in November 2020.

It adds that the outstanding amount of deposits reached €48.2 billion in December 2020.

Total loans in December 2020 recorded a net increase of €583.7 million, compared with a net decrease of €60.4 million in November 2020. The annual growth rate stood at 2.7%, compared with -4.4% in November 2020.

The outstanding amount of total loans reached €31.8 billion in December 2020.

The CBC notes that the suspension of instalments, according to the Decree for the suspension of loan instalments by the Minister of Finance, had an upward impact on the above changes in loans. The suspension of instalments was related to loans from MFIs to households and non-financial corporations amounting to €10.5 billion.