The outflow of Russian funds from the banking system continues and every month the amount that the Russians withdraw from their deposits increases. Within a year, deposits from third countries decreased by € 1 billion and in one month by € 46 million.
Based on the data of the Central Bank, a continuous declining trend is recorded in the deposits that have the specific geographical origin. Compared to two years ago, the decrease is even greater and reached € 2,44 billion. The decrease in the presence of Russian depositors in Cypriot banks seems to be related to the effort made internationally to combat money laundering. within the EU.
The Central Bank announced yesterday the data for the first month of the year, according to which total deposits in January 2019 showed a net decrease of € 342,7 million, compared to a net increase of € 392,7 million in December 2018. annual change rate amounted to 4,1%, compared to 3,7% in December 2018. The balance of total deposits in January 2019 reached € 47,5 billion. Due to the fact that Russian customers close bank accounts in Cyprus, in In one year, total deposits decreased by € 1,06 billion and compared to two years ago, the decline was € 2,44 billion. Even compared to the end of 2013, the year in which " haircut ", the deposits of the Russians in the banking system of Cyprus were more than double. According to the Central Bank, Russian deposits fell sharply as at the end of 2013 it was € 11,76 billion while in January 2019 it reached € 4,95 billion.
Deposits of European citizens, including deposits from Greece, at the end of January 2019 were € 3,14 billion, marking a decline of € 117 million in a month and € 96 million in a year. Essentially, these deposits remain on a stable basis since 2016, while since 2014 and for two years, they have shown an upward trend. Domestic deposits fell by € 188 million in one month to € 37,42 billion at the end of January 2019. On an annual basis, the increase was € 110 million. Household deposits at the end of January were € 23,45 billion. Remaining at the same levels compared to 2018. Compared to 2017, there was an increase of € 360 million. Corporate deposits decreased by € 95 million in one month, reaching € 8,65 billion. Compared to 2018, the increase in deposits was € 556 million.
In terms of borrowing, total loans in January 2019 showed a net increase of € 115,1 million, compared to a net increase of € 166,8 million in December 2018. The annual rate of change reached -2,4%, compared to -2,6% in December 2018. The balance of total loans in January 2019 amounted to € 39,3 billion. In terms of business loans, they increased by € 110 million in one month with the total balance reaching € € 18,24 billion In housing loans there was a negative flow of € 8,1 million and the balance was € 9,64 billion. In consumer loans there was an increase of € 10 million in one month.
Source: Philenews / Theano Thiopoulou