Cyprus’ bank deposits increased in July this year for the fourth consecutive month, data released by the country’s central bank showed on Friday. Total deposits in July recorded a net increase of 269 million euros, compared with a net increase of 343.4 million euros in June 2016.
The annual growth rate stood at 5.5 percent compared with 5.4 percent in June 2016. It is the tenth consecutive month that deposits record an increase on a yearly basis. The outstanding amount of deposits reached 47 billion euros in July 2016.
Deposits increased by 1.13 billion euros from last March when they reached the lowest level of the past nine years. Last March, deposits fell to 45.73 billion euros, the lowest level since April 2007, when they stood at 44.52 billion euros.
(Source: CNA)
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