In January 2024, both total loans and total deposits recorded a net decrease, with loans decreasing by €122.9 million and deposits by €366.0 million, following the increase they experienced (loans and deposits) in the previous month (December 2023), according to data released on Tuesday by the Central Bank of Cyprus (CBC).
Specifically, according to the CBC, total loans in January 2024 decreased to €24.7 billion, with loans to residents of Cyprus showing a decrease of €44.8 million. In December 2023, they had recorded a net increase of €284.2 million.
In more detail, loans to households increased by €3.4 million, while loans to non-financial corporations decreased by €19.1 million. Loans to other domestic sectors showed a total decrease of €29.1 million.
Furthermore, according to the CBC, total deposits in January 2024 recorded a net decrease of €366.0 million, compared to a net increase of €346.0 million in December 2023, with deposits from residents of Cyprus showing a decrease of €273.1 million.
The annual rate of change in total deposits reached 0.8%, compared to 0.4% in December 2023. The remaining total deposits in January 2024 amounted to €51.9 billion.
In more detail, deposits from households and non-financial corporations decreased by €28.9 million and €206.5 million respectively. Deposits from other domestic sectors also showed a decrease, amounting to €37.7 million.