economic shifts deposits

Economic Shifts: Cyprus Sees Dip in Deposits and Loans

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.