Total bank deposits in Cyprus recorded a net decrease of €211.3 million in January 2025, following a significant net increase of €977.4 million in December 2024, according to the Central Bank of Cyprus (CBC).

The figures, included in the February 2025 Monetary and Financial Statistics report, provide insights into the country’s banking activity.

Despite the overall decline, the annual growth rate of total deposits reached 6.9 per cent in January, slightly up from 6.6 per cent in December.

At the end of the month, total deposit balances stood at €55.7 billion.

Breaking down the figures, deposits from Cyprus residents fell by €81.2 million.

Household deposits increased by €111.1 million, but deposits from domestic non-financial corporations declined by €57.1 million.

Other domestic sectors recorded an overall decrease of €135.2 million.

In the lending sector, total loans in January 2025 registered a net decrease of €45.6 million, in contrast to a net increase of €503.2 million in December.

However, the annual growth rate of total loans accelerated to 3.2 per cent, up from 2.8 per cent the previous month.

By the end of January, total outstanding loans in Cyprus reached €25.4 billion.

What is more, the report also showed that loans to Cyprus residents increased by €52.6 million.

Within this category, household loans declined by €10.2 million, while loans to non-financial corporations rose by €64.4 million.

Other domestic sectors saw a marginal overall decrease of €1.6 million.