An increase in loans and deposits in the Cypriot banks was recorded in November 2023, according to December 2023 edition of Monetary and Financial Statistics issued by the Central Bank of Cyprus.

Total deposits in November 2023 recorded a net increase of €91.7 million, compared with a net decrease of €61.0 million in October 2023. The annual growth rate of total deposits stood at 0.9%, compared with 0.7% in October 2023. The outstanding amount of total deposits reached €51.9 billion in November 2023.

Deposits of Cyprus residents saw a surge of €40,7 million. A breakdown in figures reveals a decrease of €102.4 million in household deposits, countered by a €66.0 million increase in non-financial corporations' deposits. Deposits from other domestic sectors exhibited an overall increase of €77.1 million.

Total loans in November 2023 increased by €15.0 million, a significant shift from the previous month's net decrease of €212.9 million. The annual growth rate for total loans stood at -0.2%, improving from -0.3% in October 2023, with the outstanding amount reaching €24.7 billion.

Loans to Cyprus residents showed a decrease of €45.5 million. Breaking down the figures, loans to households increased by €8.2 million, while loans to domestic non-financial corporations saw a decrease of €71.1 million. Loans to other domestic sectors recorded a collective increase of €17.5 million.