On Thursday 27th the Central Bank of Cyprus released fresh data on loans and deposits for January 2025.
According to the country's main financial institution, the island nation's banking system recorded a decline in new deposits and loans during the month.
Deposits
Total cash in deposit accounts with banks in Cyprus decreased by €211.3 million in January 2025, compared with a net increase of €977.4 million in December 2024. The annual growth rate was 6.9%, compared with 6.6% in the previous month. The stock of deposits at the end of January 2025 reached 55.7 billion euro.
Looking at the details, deposits of Cypriot residents decreased by €81.2 million. Deposits of non-financial corporations decreased by €57.1 million, while those of households increased by €111.1 million. Deposits of the other domestic sectors decreased by a total of €135.2 million.
Loans
Total loans decreased by 45.6 million euro, compared with a net increase of 503.2 million euro in December 2024. The annual rate of change in total loans was 3.2%, compared with 2.8% in the previous month. The total stock of loans at the end of January 2024 reached 25.4 billion euro.
It is worth noting that between January 2021 and January 2025 the maximum outflow of funds from Cypriot banks occurred in March 2022 (€1.071 bn), while the highest inflow occurred in December 2022 (+€586.3 m).
In January 2025, loans to Cypriot residents increase by €52.6 million. Loans to households decreased by €10.2 million, while loans to non-financial corporations increased by €64.4 million. Loans to the rest of the economy recorded an overall decrease of EUR 1.6 million.