According to the Monetary and Financial Statistics of December 2023 released by the Central Bank of Cyprus, there was a notable rise in both loans and deposits in Cypriot banks during November 2023.
Total deposits in November 2023 saw a net increase of €91.7 million, contrasting with a net decrease of €61.0 million in October 2023.
The annual rate of change for total deposits reached 0.9%, compared to 0.7% in October 2023. The remaining balance of total deposits in November 2023 reached €51.9 billion.
Residents of Cyprus experienced an increase of €40.7 million in deposits. Specifically, household deposits decreased by €102.4 million, while deposits of domestic non-financial corporations recorded an increase of €66.0 million.
Deposits from other domestic sectors showed an overall increase of €77.1 million.
Moreover, total loans in November 2023 witnessed a net increase of €15.0 million, in contrast to a net decrease of €212.9 million in October 2023.
The annual rate of change for total loans stood at -0.2%, compared to -0.3% in October 2023. The remaining balance of total loans in November 2023 reached €24.7 billion.
Loans to residents of Cyprus saw a decrease of €45.5 million.
Specifically, loans to households increased by €8.2 million, while loans to non-financial corporations recorded a decrease of €71.1 million. Loans to other domestic sectors showed an overall increase of €17.5 million.
