Moody’s: Increased Deposits in Cyprus Banks is Credit Positive

17:50 - 04 Οκτωβρίου 2016

Moody’s rating agency marked Monday, October 3, as credit positive, the inflow of deposits amounting to €873 million at the Cypriot banking system in August 2016, raising deposits at the highest point of the last three years since April 2012.
As the agency points out in its weekly bulletin "Credit Outlook", although Cypriot banks have a high stock of problem loans that will challenge them for a prolonged period, the increase in deposits, which was driven by less confidence-sensitive domestic residents’ deposits, will improve banks’ funding structure, a credit positive.
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