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banking deposits

Cyprus Banking Trends: Deposits Rise While Loans Decline

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In Cyprus, deposits in banks are on the rise, increasing by €209.1 million in April to reach a total of €52.5 billion, while loans have seen a decline of €278.6 million in the same month, totaling €24.9 billion. This trend indicates a growing savings trend and cautious borrowing behavior in the Cypriot economy, reflecting the current financial landscape in the country.

economic shifts deposits

Economic Shifts: Cyprus Sees Dip in Deposits and Loans

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The recent statistics published by the Central Bank of Cyprus reveal a decline in both deposits and loans in the country. Total deposits decreased by €61.0 million, with a slowdown in the annual growth rate to 0.7%, while loans saw a significant net decrease of €212.9 million, bringing the loan growth to 0.3% and the outstanding loan amount to €24.7 billion. These findings suggest a shift in the financial behaviors of individuals and institutions in Cyprus.

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