The Central Bank of Cyprus has today released the MFIs deposits and loans statistics for the reference month of December 2024, which are included in the January 2025 edition of Monetary and Financial Statistics.
Total deposits in December 2024 recorded a net increase1 of €977,4 million, compared with a net increase of €91,6 million in November 2024. It is noted that the size of the deposits increase in December 2024 was affected by seasonal factors. The annual growth rate of total deposits stood at 6,6%, compared with 5,4% in November 2024. The outstanding amount of total deposits reached €55,9 billion in December 2024.
Deposits of Cyprus residents exhibited an increase of €877,2 million. More analytically, households’ deposits increased by €594,5 million, while deposits of non-financial corporations recorded a decrease of €135,3 million. Deposits of the remaining domestic sectors2 exhibited a total increase of €418,0 million.
Total loans in December 2024 recorded a net increase of €503,2 million, compared with a net decrease of €1,8 million in November 2024. The annual growth rate of total loans stood at 2,8%, compared with 1,9% in November 2024. The outstanding amount of total loans reached €25,4 billion in December 2024.
Loans to Cyprus residents exhibited an increase of €150,7 million. More analytically, loans to households and non-financial corporations increased by €111,3 million and €111,4 million respectively. Loans to the remaining domestic sectors2 exhibited a total decrease of €72,0 million.
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1) Τhe term "net decrease/increase" represents the term "transactions", i.e. it does not include the changes resulting from reclassifications, exchange rate and other adjustments.
2) The remaining domestic sectors include investment funds, other financial intermediaries, financial auxiliaries, captive financial institutions and money lenders, insurance corporations and pension funds and general government.