The Central Bank of Cyprus released monetary financial institutions (MFI) deposits and loans statistics for December 2024, showing a sharp acceleration in deposit inflows and a return to positive loan growth. Total deposits recorded a net increase of EUR 1,977.4 million and the annual growth rate rose to 6.6%, with deposits outstanding at EUR 55.9 billion; the size of the monthly increase was influenced by seasonal factors. Total loans recorded a net increase of EUR 503.2 million, lifting the annual growth rate to 2.8%, with loans outstanding at EUR 25.4 billion. Deposits of Cyprus residents increased by EUR 877.2 million, driven by households (EUR 594.5 million), while deposits of domestic non-financial corporations fell by EUR 135.3 million and deposits of remaining domestic sectors rose by EUR 418.0 million. Loans to Cyprus residents increased by EUR 150.7 million, with lending to households and non-financial corporations up by EUR 111.3 million and EUR 111.4 million respectively, while loans to remaining domestic sectors decreased by EUR 72.0 million; net changes reflect transactions and exclude reclassifications, exchange rate movements and other adjustments.
Central Bank of Cyprus 2025-01-29
Central Bank of Cyprus publishes December 2024 MFI deposits and loans statistics with EUR 1,977.4 million net deposit increase
The Central Bank of Cyprus reported a significant rise in monetary financial institutions deposits and loans for December 2024, with deposits increasing by EUR 1,977.4 million and loans by EUR 503.2 million. The annual growth rates for deposits and loans reached 6.6% and 2.8%, respectively, influenced by seasonal factors. Cyprus residents' deposits grew by EUR 877.2 million, primarily from households, while loans to residents increased by EUR 150.7 million, driven by household and non-financial corporation lending.