Increase in Bank Deposits Despite Economic Challenges
September 26, 2025
According to new data from the Central Bank, deposits in banks in Cyprus have been increasing despite the difficulties faced by the private sector. From the beginning of the year until August, deposits rose by €2.3 billion, reaching a record €56.57 billion. Both household and business deposits saw significant increases, with the bank noting that improved economic conditions contribute to this trend. Depositors are shifting preference towards longer-term deposits. Citizens appear to want to save more, recognizing the positive macroeconomic outlook.