FRANKFURT May 28 Private-sector deposits in
Cypriot banks fell slightly in April and deposits in other
southern European countries hit by the euro zone debt crisis
remained relatively stable, European Central Bank data showed on
Big account holders in Cyprus's two largest lenders were
forced to take a hit as part of an international bailout for
Cyprus last year and private sector deposits at all banks on the
island had been broadly declining since June 2012.
In April, private-sector deposits at Cypriot banks fell by
0.7 percent to 34.3 billion euros from the previous month, data
showed. The deposits are about 32 percent below their peak of
50.5 billion euros in May 2012.
Banks in the euro zone member state were shut for nearly two
weeks in March last year after Cyprus agreed a 10-billion-euro
bailout under which major depositors had to pay part of the cost
of the rescue. Capital controls are still in place, with limits
on how much people can transfer from their accounts, although
Cyprus is gradually easing the restrictions.
In Italy, private-sector deposits fell by 0.9 percent in
April after a similar increase the previous month. Deposits rose
by 0.5 percent in Greece and by 0.8 percent in Portugal, the ECB
Monthly fluctuations in the figures are common, though sharp
consecutive drops in countries with stable banking systems are
The data are not seasonally adjusted and differ slightly
from national central bank figures. They exclude deposits from
central government and banks.
(Reporting by Eva Taylor; Editing by Hugh Lawson)