In addition, the central bank’s report showed that total loans stood at €24.9 billion during the same period. Net deposits recorded an increase of €91.6 million in November, a significant slowdown compared to the €377.6 million rise in October. The annual growth rate of total deposits remained steady at 5.4 per cent, the same as in the previous month.

The report also showed that deposits by Cypriot residents saw a net increase of €155.9 million. This included a €71.7 million rise in household deposits, while deposits from domestic non-financial corporations fell by €11.7 million. Other domestic sectors contributed to an overall deposit increase of €95.9 million.

On the loans side, total loans in November experienced a net decrease of €1.8 million, a much smaller decline than the €213 million reduction observed in October. The annual growth rate of total loans stood at 1.9 per cent, slightly down from 2 per cent in October. What is more, loans to Cypriot residents saw a €9.5 million net decrease. Within this category, loans to households increased by €6.5 million, but loans to non-financial corporations fell by €47.3 million.

Finally, the CBC reported that other domestic sectors recorded a net loan increase of €31.3 million.

Source: Cyprus Mail