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Cypriots borrowed more and saved even more in November, a sign that households are still reaching for credit while parking cash in the bank, even as the cost of living keeps biting.
New figures from the Central Bank of Cyprus show that loans grew by a net €71.5 million in November 2025, with nearly €50 million of that going directly to households. In plain terms: families took on more debt, mostly for everyday needs, homes, or personal expenses.
At the same time, deposits jumped sharply, rising by €330.8 million in just one month. Most of that money, €258.6 million, came from Cypriot residents, pushing total deposits to a hefty €57.9 billion.
The contrast is striking. While borrowing continued, Cypriots were clearly more focused on saving. Deposits grew at an annual pace of 6.7%, up from 6.3% in October, suggesting households are building financial cushions or holding back on spending.
Household deposits rose by €176.4 million in November, while businesses added another €26.6 million. Other domestic sectors contributed an additional €55.7 million, according to the Central Bank data released Friday.
Loan growth, by comparison, slowed significantly. In October, loans had jumped by more than €336 million. November’s increase was far more modest, although the annual growth rate of total loans still climbed to 10.5%, from 10.2% a month earlier. Overall loans now stand at €26.8 billion.
Digging deeper into the numbers shows where the pressure lies. Loans to households rose by €50.3 million, while loans to non-financial companies actually dipped slightly, falling by €0.7 million. Other domestic sectors recorded a smaller increase of €8.7 million.
The figures paint a mixed picture of the economy: households are still borrowing, but more cautiously, while keeping more money in the bank. For many families, it appears to be a balancing act, managing rising costs today while trying to prepare for an uncertain tomorrow.
