The Central Bank released on Monday for the first time a quarterly publication on IFs statistics.

“It should be noted that the importance of the sector in the Cyprus economy increases over time, with the number of IFs rising to 77 in March 2014 from 55 in December 2008 and their total assets increasing from €1,275.2 million in December 2008 to €3,076.1 million in March 2014”, the press release said. Total assets in March 2013 came to €2,160.3 million.

According to the data, assets of IFs included in March 2014 €430.7 million of deposits / loans, €35.1 million of securities other than shares, €2,39 billion shares and other equities, €116.7 in non financial assets, including fixed assets and €96 million in other assets including financial derivatives.

IFs loans came to €231.8 million in March 2014 compared to €314.1 million in March 2013.

Source: Famagusta Gazette