Both deposits and loans in the Cyprus banking system have registered net increases in March with the outstanding amounts totalling €52 billion and €25 billion respectively.

According to data released by the Central Bank of Cyprus, total deposits in March 2023 recorded a net (excluding the changes resulting from reclassifications, exchange rate and other adjustments) increase of €59.8 million, compared with a net increase of €357.1 million in February 2023.

The annual growth rate stood at 2.6%, compared with 0.3% in February 2023, with the outstanding amount reaching reached €51.9 billion in March 2023.

According to the CBC, total loans in March 2023 recorded a net increase of €41.9 million, compared with a net increase of €81.2 million in February 2023.

The annual growth rate stood at -0,5%, compared with -0,7% in February 2023, while the outstanding amount of total loans reached €25.1 billion in March 2023.