Bank deposits in Cyprus rise by 6% to a record €56.57 billion

Bank deposits in Cyprus increased by 6% in August 2025, reaching a historic high of €56.57 billion, according to the Central Bank of Cyprus.

Since the beginning of the year, residents’ deposits have grown by €2.3 billion: household deposits rose by €850 million, while corporate deposits increased by €1.45 billion. In August, the net inflow of residents’ deposits amounted to €133.6 million; household deposits grew by €46.5 million, and deposits of non-financial corporations by €152.7 million.

The monthly growth of deposits remains above the pace of economic growth: in Q2 2025, GDP rose by 3.3%, while deposit growth in July and June was 6.5% and 7.1%, respectively. The Central Bank of Cyprus notes a shift in depositors’ preferences toward time deposits of up to one year in 2024, in anticipation of changes in the European Central Bank’s monetary policy.

The regulator’s report links deposit growth to improved business activity, rising household incomes, and the seasonal effect of tourism. At the same time, total lending decreased by €60.8 million in August; annual credit growth remains at 7.2%, with total loans reaching €26.4 billion.