Deposits increase in May as loans drop sharply, central bank says

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Deposits increase in May as loans drop sharply,...
 © BusinessMail 2020
By Stelios Orphanides

The amounts deposited at accounts in the Cypriot banking system rose by €377.2m to €46.7bn while the outstanding loans fell by more than €2.1bn to €55.3bn, reducing the liquidity gap to €8.9bn, which is the smallest value since the 2013 banking crisis, the Central Bank of Cyprus said.

The increase in overall deposits resulted from net inflows to the accounts of -mainly Cypriot- non-financial corporations, worth €259.6m to almost €10.4bn, the highest since November 2013, the central bank said in a statement on its website on...


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Deposits increase in May as loans drop sharply, central bank says


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