Deposits in Cyprus surged by €421.2 million in October 2025, marking a significant increase according to the latest statistics from the Central Bank of Cyprus (CBC). This rise comes amidst a backdrop of expanding loan activity across various sectors.
Monthly Movements in Deposits
The total deposits recorded a net increase of €412.3 million during October, although this was a decline from the €670.2 million rise seen in September. The CBC highlighted that the balance of total deposits now stands at an impressive €57.6 billion, with an annual growth rate remaining stable at 6.3 per cent.
Household and Corporate Contributions
Deposits from Cypriot residents played a crucial role in this increase, contributing €421.2 million. Specifically, household deposits rose by €158.7 million, while non-financial corporations added €206.9 million to the total. Additionally, other domestic sectors recorded a rise of €55.7 million, showcasing a robust confidence among residents and businesses alike.
Loan Growth Accelerates
In parallel with the rise in deposits, total loans also saw a notable increase of €336.6 million in October, surpassing the previous month’s net increase of €269 million. The annual growth rate for loans accelerated to 10.2 per cent, up from 7.9 per cent in September, bringing the total loan balance to €26.8 billion.
Sector-Specific Lending Dynamics
Loans to Cypriot residents specifically rose by €30.4 million. Households accounted for a significant portion of this growth, with loans increasing by €61.1 million. Conversely, lending to non-financial corporations experienced a decline of €34.5 million, while loans to other domestic sectors saw a modest increase of €3.8 million.
Implications for the Cypriot Economy
This surge in deposits and loans suggests a positive trend in the Cypriot economy, where both households and businesses are actively engaging in financial activities. The Central Bank’s data indicates a strong foundation for continued economic growth as confidence in the financial system remains high.
