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ECONOMY

Deposits Continue To Rise For Fifth Consecutive Month, Loans Mark Second Monthly Increase

Deposits Continue To Rise For Fifth Consecutive Month, Loans Mark Second Monthly Increase

According to data released by the Central Bank of Cyprus, deposits in the Cyprus banking system marked a net increase for the fifth consecutive month in July 2021, rising to €49.6 billion.

Similarly, loans registered a second net monthly increase, amounting to €29.7 billion with the liquidity in the system amounting to around €19 billion.

Total deposits in July 2021 recorded a net increase (excluding changes resulting from reclassifications, exchange rate and other adjustments) of €52.1 million, compared with a net increase of €432.4 million in June 2021.

The annual growth rate stood at 4.2% – compared to 4.4% in June 2021 – with the outstanding amount reaching €49.6 billion in July 2021.

What is more, total loans in July 2021 recorded a net increase of €107.4 million, following a net increase of €244.2 million in June 2021.

The annual growth rate stood at 1.5%, compared with 1.3% in June 2021, while the outstanding amount reached €29.7 billion in July 2021.

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