The Central Bank of Cyprus released monetary financial institutions (MFIs) deposits and loans statistics for the reference month of November 2024. Total deposits recorded a net increase of EUR 191.6 million and the annual growth rate of total deposits was 5.4%, unchanged from October 2024, with total deposits outstanding at EUR 54.8 billion. Total loans recorded a net decrease of EUR 1.8 million, with annual loan growth easing to 1.9% from 2.0% in October 2024, and total loans outstanding at EUR 24.9 billion. Deposits by Cyprus residents increased by EUR 155.9 million, driven by a EUR 71.7 million rise in household deposits and a EUR 95.9 million increase in deposits of remaining domestic sectors, while deposits of domestic non-financial corporations fell by EUR 11.7 million. Loans to Cyprus residents decreased by EUR 9.5 million, reflecting a EUR 47.3 million fall in lending to non-financial corporations, partly offset by a EUR 6.5 million increase in household lending and a EUR 31.3 million rise in loans to remaining domestic sectors. The Central Bank noted that net increases and decreases represent transactions and exclude changes from reclassifications, exchange rate movements and other adjustments.
Central Bank of Cyprus 2025-01-02
Central Bank of Cyprus reports EUR 191.6 million rise in MFI deposits and EUR 1.8 million fall in loans in November 2024
In November 2024, the Central Bank of Cyprus reported a EUR 191.6 million increase in total deposits by monetary financial institutions, maintaining a 5.4% annual growth rate, with outstanding deposits at EUR 54.8 billion. Total loans decreased by EUR 1.8 million, with annual loan growth slowing to 1.9%, and outstanding loans at EUR 24.9 billion. Deposits by Cyprus residents rose by EUR 155.9 million, while loans to residents fell by EUR 9.5 million, driven by a decline in lending to non-financial corporations.