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November deposits up €91.6m, loans down €1.8m

15:45 - 02 January 2025

Financial Services

Total deposits reached €54.8 billion, while total loans were at €24.9 billion in November 2024, the Central Bank of Cyprus said in the December 2024 edition of Monetary and Financial Statistics.

Total deposits recorded a net increase of €91.6m (there was a net increase of €377.6m in October 2024). The annual growth rate of total deposits stood at 5.4%, remaining unchanged compared with October.

Cyprus residents' deposits rose €155.9m. Households’ deposits increased by €71.7m, while those of non-financial corporations dropped €11.7m. Deposits of the remaining domestic sectors exhibited a total increase of €95.9m.

Total loans down €1.8m

Total loans in November recorded a net decrease of €1.8m, compared with a net decrease of €213m in October. The annual growth rate of total loans stood at 1.9%, compared with 2% in October 2024.

Loans to Cyprus residents were down €9.5m, with loans to households increasing by €6.5m, and loans to non-financial corporations dropping €47.3m. On the other hand, loans to the remaining domestic sectors rose by €31.3m.

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