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The Central Bank of Cyprus issues statistics on performance on Cyprus banking sector

The Central Bank of Cyprus (CBC) released the data about the performance in Cyprus banking sector in August 2020. Total deposits rose in this period, with the outstanding amount reaching €47.9 billion. This is compared with a net increase of €105,6 million in July 2020. On an annual basis, the deposits remained unchanged, compared with an annual reduction of 0.9 per cent in July 2020.

There was a net decrease of €60.7 million of total loans in August 2020, compared with a net increase of €66.9 million in July 2020, with the outstanding amount reaching 31.8 billion. The annual growth rate in August amounted to -4,4%, compared with -3,7% in July 2020.

According to the Central Bank of Cyprus, the suspension of instalments which was related to loans from MFIs to households and non-financial corporations amounting to €10.4 billion, had an upward impact on the above changes in loans.
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