Household deposits decreased by €50.8 million in October compared to the previous month, while corporate deposits increased by €126.9 million.
Meanwhile, household loans saw an increase of approximately €700,000, while corporate loans decreased by €124.8 million.
According to data on deposits and loans for October published by the Central Bank of Cyprus (CBC), total deposits in October 2023 recorded a net decrease of €61.0 million, compared to a net increase of €87.7 million in September 2023.
The annual rate of change in total deposits reached 0.7%, down from 1.6% in September 2023.
The total amount of deposits in October 2023 reached €51.9 billion, with deposits from residents of Cyprus showing an increase of €16.0 million.
Specifically, according to the CBC, household deposits decreased by €50.8 million, while domestic non-financial corporations’ deposits increased by €126.9 million. Deposits from other domestic sectors collectively decreased by €60.1 million.
According to the CBC, total loans in October 2023 recorded a net decrease of €212.9 million, compared to a net increase of €19.2 million in September 2023.
The total amount of loans in October 2023 reached €24.7 billion, with loans to residents of Cyprus showing a decrease of €139.6 million.
The annual rate of change in total loans reached -0.3%, compared to zero annual change in September 2023.
In detail, according to the CBC, loans to households increased by €0.7 million, while loans to non-financial corporations decreased by €124.8 million. Loans to other domestic institutional sectors collectively decreased by €15.5 million.
