In December, total deposits in the banking system showed a net monthly increase of €346 million, reaching €52.2 billion.
At the same time, according to data from the Central Bank of Cyprus (CBC), total loans in the last month of the year presented a net increase of €284.2 million (excluding changes resulting from rearrangements, exchange rate variations, and other adjustments), with the overall balance reaching €24.8 billion. Thus, system liquidity (the difference between deposits and loans) was set at €27.4 billion.
According to the CBC, total deposits in December 2023 recorded a net increase of €346.0 million compared to a net increase of €91.7 million in November 2023, with the annual rate of change reaching 0.4%, compared to 0.9% in November 2023. The balance of total deposits in December 2023 reached €52.2 billion.
Deposits from residents of Cyprus increased by €388.0 million. Household deposits increased by €461.0 million, while deposits from domestic non-financial corporations recorded a decrease of €252.0 million.
Deposits from other domestic sectors (such as investment organizations, other intermediate financial organizations, subsidiaries of financial organizations, insurance companies, pension funds, and the general government) showed a total increase of €179.0 million.
Simultaneously, total loans in December 2023 recorded a net increase of €284.2 million compared to a net increase of €15.0 million in November 2023, with the annual rate of change reaching 0.7%, compared to -0.2% the previous month.
The balance of total loans in December 2023 reached €24.8 billion.
According to the CBC, loans to residents of Cyprus increased by €132.9 million.
In detail, loans to households increased by €99.0 million, while loans to non-financial corporations recorded an increase of €54.5 million.
In contrast, loans to other domestic sectors showed a total decrease of €20.6 million.