The annual rise in deposits to the Cypriot banking system is improving the banks funding structure, rating agency Moody's said as deposits rose by €3 billion in 2016.
Deposits in the Cyprus banking system in 2016 rose for the first time since the 2013 banking crisis that saw unsecured deposits converted to equity to save the island`s largest lender, Moody’s said a Credit Outlook issued recently.
“The increase in deposits was driven by more stable domestic deposits and is credit positive because it improves banks’ funding structures.”
Source: CNA
