FAMAGUSTA GAZETTE – Bank deposits in Cyprus surged in June, marking a significant uptick compared to the previous month, according to data released by the Central Bank.
Total deposits rose by more than €650 million, a sharp increase from just €21 million recorded in May.
The annual growth rate of deposits exceeded 7%, with the total balance nearing €57 billion at the end of June.
Loans also saw a net increase of €470 million, with the largest share of growth attributed to non-financial corporations.
The figures reflect growing financial activity in the country’s banking sector amid broader economic momentum.