On Tuesday 29th April the Central Bank of Cyprus released fresh data on loans and deposits for the month of March.
According to the country's main financial institution, the island nation's banking system recorded a significant increase in new loans and a decrease in deposits.
Deposits
Total cash in deposit accounts with Cypriot banks decreased by €66.3 million in March 2025, compared with a net increase of €498.3 million in February 2025. The annual growth rate was 7.1%, compared with 7.7% in the previous month. The stock of deposits at the end of March 2025 reached 55.9 billion euro.
Looking at the details, deposits of Cypriot residents decreased by €22.5 million. Meanwhile, deposits of non-financial corporations increased by €400.1 million and those of households by €13.6 million. Deposits of the other resident sectors registered an overall decrease of EUR 436.1 million.
Loans
Total loans increased by 429.9 million euro, compared with a net increase of 42.7 million euro in February 2005. The annual rate of change in total loans was 3.1%, compared with 1.9% in the previous month. Total loans amounted to 25.5 billion euro at the end of March 2025.
The increase was mainly due to a rise in loan disbursements to Cypriot residents of € 269.9 million. In particular, total loans to households increased by €29.8 million, while loans to non-financial corporations rose by €188.6 million. Total loans to other domestic sectors increased by €51.5 million.
It is worth noting that between January 2021 and March 2025, the highest outflow from Cypriot banks occurred in March 2022 (€1.071 billion), while the highest inflow occurred in December 2022 (+€586.3 million).