According to figures released today by the Central Bank of Cyprus, deposits outflow reached €1.44 billion, compared with the reduction of €6.34 billion in April. On an annual basis deposits declined by 22.8% compared with deposits of €72.46 billion in May 2012. Domestic resident deposits reached €37.76 billion reduced by €556 million compared with April 2013, whereas deposits of residents of other Eurozone member states reached €2.94 billion, whereas deposits from residents coming from third countries (non EU countries) registered a reduction of €738 million to €15.22 billion.

General government deposits increased at €450 million compared with €366 million in April. On an annual basis general government deposits registered a reduction of 14.1%.

Company deposits in May declined to €14.72 billion from €15.28 billion in April. Compared with May 2012, company deposits declined by 34.4%.

Household deposits declined by €506 million to €30.93 billion while compared with May 2012, household deposits declined by 15.3%. Domestic household deposits reached €24.74 billion down €185 million compared with April.

Total loans also decreased at €67.97 billion compared with €68.42 in April. Compared with May 2012 total loans declined by 2%. Loans to domestic residents dropped by €356 million to €52.79 compared with April`s €51.10 billion. However compared with May 2012 loans to domestic residents increased by 1.4%. Loans to other residents from other Eurozone member-states declined to €3.60 billion compared with April`s €3.66 billion. Loans to residents from non EU countries reached €11.57 billion compared with April`s €11.68 billion and May 2012 €13.82 billion.

Consumer loans reached €3.31 billion compared with April`s €3.36, while compared with May 2012 consumer loans declined by 5.3%. Housing loans also declined to €14.18 billion compared with April`s €14.27.

Loans to businesses reached €24.17 billion, reduced by 185 million compared with April 2013, whereas business loans declined by 1.3% compared with May 2012.

Source: Financial Mirror