Deposits decline the past month in Cypriot Banks
Bank deposits are down for the past month according to the Central Bank’s numbers published on Wednesday evening.
Total deposits in banks fell by €130 million in March of this year and stood at €46.81 billion, according to data released by the Central Bank of Cyprus, mainly due to an outflow of deposits by third country residents.
In February 2015 deposits had recorded a net decrease of €163.4 million and in January €293.4 million.
The annual rate of change in deposits was -3.6% in March compared to -3.8% in February 2015.
Despite the drop, the total deposits of €46.81 billion constitutes the largest deposits amount since May 2014 when deposits stood at €46.91 billion.
Total loans in March 2015 were also down by €878.7 to €64.2 billion. In February loans recorded a net decrease of €207.2 million.
The annual rate of change in loans was -2.0% in March 2015 compared to -1.2% in February 2015.