CySEC publishes 2022 bulletin, complete property of Cyprus funding corporations drop 53% Y/Y

The Cyprus Securities and Alternate Fee (CySEC) at present revealed its annual statistical bulletin for 2022.

The whole variety of Cyprus funding corporations (CIFs) marked a 2% year-on-year lower between 2021 and 2022. As on the finish of 2022, the general of CIFs was 225.

As on the finish of 2022, the entire variety of CIFs’ shoppers was 4,147,949. The rise of 26% within the variety of shoppers between 2021 and 2022, is attributed partly to market development and partly to a change within the reporting of the shoppers applied by plenty of CIFs following Brexit.

The whole variety of workers of all CIFs elevated by 10% between the years 2019 and 2020, whereas a considerable drop of 20% is witnessed between the years 2020 and 2022. As on the finish of 2022, the entire variety of workers of CIFs reached 4,341.

In 2022, the Revenue generated from the actions of the CIF sector totalled €2.7 billion. Final yr noticed the best Buying and selling Revenue. The CIFs’ sector skilled a 14% year-on-year development of their Buying and selling Revenue between 2021 and 2022.

In 2022, CIFs’ Complete Property recorded an year-on-year discount of 53%, for the primary time in 4 years. CIFs’ Complete Property dropped considerably to €4.9 billion in 2022, when in comparison with €10.5 billion of 2021.

The battle in Ukraine has affected CIFs’ Complete Property because of imposition of sanctions and discount in CIFs’ quantity of operations. One other issue that impacted negatively the worth of CIFs’ Property, was the massive deviation of the EUR/USD trade price that monetary markets skilled over the past quarter of 2022. All CIFs having their property denominated in USD have been considerably affected by this foreign money fluctuation.

Along with this, a considerable amount of CIFs’ Property denominated in Russian Rubbles, was withdrawn from their accounts, in an try to restrict their publicity to the precise foreign money.

On the finish of 2022, CySEC regulated and supervised a complete of 837 Regulated Entities.