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Cyprus Loans Rise €528M In March As Deposits Increase €426M

The Central Bank of Cyprus reported increases in lending and deposit activity for March 2026. The data show changes in credit expansion and liquidity conditions across the banking system.

Substantial Loan Growth

Total loans increased by €528.1 million in March, compared with a €326.2 million rise in February. The annual growth rate reached 12.6%, up from 12.3% in the previous month. As a result, the total outstanding loan balance rose to €27.9 billion, reflecting continued expansion in credit activity.

Focus On Residential And Corporate Lending

Loans to Cyprus residents increased by €72.3 million. Within this total, household lending rose by €52.3 million, while loans to non-financial corporations increased by €37.3 million. At the same time, lending to other domestic sectors declined by €17.3 million, indicating a shift in the distribution of credit across segments.

Enhanced Deposit Activity Bolsters Liquidity

Deposit activity also increased during the same period. Total deposits rose by €426.8 million in March, compared with €202.2 million in February. This development pushed the annual growth rate to 5.6% from 4.7%, with the total deposit balance reaching €57.8 billion.

Diverse Contributions Across Sectors

Deposits from Cyprus residents increased by €344.1 million. Within this category, household deposits declined by €138.1 million, while deposits from non-financial corporations rose by €158.3 million. In parallel, deposits from other domestic sectors increased by €323.9 million. These sectors include investment organizations, financial intermediaries, auxiliary financial institutions, insurance companies, pension funds, and government entities.

Market Resilience And Forward-Looking Insights

Taken together, the data show increases in both lending and deposit activity across the banking system. Credit expansion and deposit inflows are moving in parallel, affecting overall liquidity conditions. Future developments will depend on credit demand, deposit behaviour, and broader economic conditions.

Cyprus And Greece Outline Joint Tourism Plans For Summer 2026

Strategic Partnership Enhances Tourism Prospects

The Cyprus Tourism Authority (EOT Cyprus) presented proposals for summer 2026 focused on strengthening tourism cooperation between Cyprus and Greece, with joint efforts aimed at attracting visitors from long-haul markets.

Greece: The Top Destination For Cypriot Travelers

At an event on April 28, Athena Spakouri, Director of EOT Cyprus, said Greece is expected to remain the main travel destination for Cypriot residents, with plans extending beyond established locations to include lesser-known regions. This approach reflects a broader effort to diversify travel options while maintaining strong demand between the two countries.

Complementary Destinations, Unified Vision

Building on this, Spakouri noted that Cyprus and Greece offer complementary tourism experiences rather than competing directly. Joint programmes are therefore being positioned to attract visitors from markets such as the United States and China, while tourism activity continues to be assessed in the context of broader geopolitical developments.

Robust Air And Sea Connectivity

Supporting this cooperation, Konstantinos Kollias said around 600,000 Cypriots travelled to Greece in 2025. Frequent flights, short travel times, and ferry connections between Limassol and Piraeus continue to facilitate movement between the two countries and sustain travel flows.

Diverse Tourism Offerings for a New Era

Konstantinos Kollias highlighted that Greece’s tourism portfolio spans from traditional seaside holidays to sectors such as cultural, religious, gastronomic, agritourism, ecotourism, spa, conference, and medical tourism.

This range reflects the expansion of tourism offerings across different segments and travel preferences. In parallel, Joseph Iosif referred to Greece as a “second homeland” for Cypriot travellers, pointing to longstanding cultural and travel links between the two countries.

Innovative Programs And Strengthened Connections

Building on this approach, the EOT strategy includes initiatives focused on gastronomic routes, cultural trails, thematic and religious tourism, as well as curated city breaks in destinations such as Athens and Thessaloniki. These programmes were presented at the event alongside references to historical, cultural, and religious connections between Cyprus and Greece, including remarks from Bishop Gregorios of Mesaoria.

Boosting Air Connectivity And Island Accessibility

At the same time, airlines including Aegean Airlines, Sky Express, and Cyprus Airways outlined plans to expand connections between Cyprus and Greece, with a focus on increasing access to island destinations. The event also brought together stakeholders from the Deputy Ministry of Tourism, Hermes Airports, tour operators, and ACTAA, reflecting coordination across different parts of the tourism sector.

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