Cyprus banks report €164.7 million deposit increase in July

Total deposits in Cyprus’ banks recorded a net increase of €164.7 million in July 2024, compared with a net decrease of €44.1 million in June 2024, according to figures released on Wednesday by the Central Bank of Cyprus (CBC).

The annual growth rate of total deposits stood at 2.9%, compared with 2.0% in June 2024. The outstanding number of total deposits reached €53.4 billion in July 2024.

Deposits of Cyprus residents exhibited an increase of €230.7 million. More analytically, household deposits decreased by €59.9 million, while deposits of non-financial corporations recorded an increase of €217.4 million. Deposits of the remaining domestic sectors2 exhibited a total increase οf €73.2 million.

Total loans in July 2024 recorded a net decrease of €7.2 million, compared with a net increase of €234.6 million in June 2024. The annual growth rate of total loans stood at 2.0%, compared with 1.6% in June 2024. The outstanding amount of total loans reached €25.0 billion in July 2024.

Loans to Cyprus residents observed a decrease of €139.0 million. More analytically, loans to households increased by €16.2 million, while loans to non-financial corporations recorded a decrease of €136.5 million. Loans to the remaining domestic sectors exhibited a total decrease of €18.7 million.