Cyprus Bank Deposits Fall By €123.1 Million In April

Deposits Decline Even As Balances Remain Strong

The Cypriot banking system experienced a net decrease of €123.1 million in deposits during April 2026, according to the latest figures released by the Central Bank of Cyprus. This downturn sharply contrasts with the net increase of €426.8 million observed in March.

High Overall Deposits With Slower Annual Growth

Despite the monthly decrease, total deposits stood at €57.6 billion at the end of April. The annual growth rate of deposits slowed to 4.5% from 5.6% in March. Cypriot residents increased their deposits by €30.1 million during the month. Household deposits rose by €122.6 million, while non-financial corporations added €63 million. These increases were offset by a €155.5 million decline in deposits held by other domestic sectors.

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Moderation In Lending Activity

Lending activity remained positive in April, although growth slowed compared with the previous month. Total loans increased by €40.5 million, following a net rise of €528.1 million in March. Outstanding loans reached €27.8 billion, while the annual growth rate eased to 12% from 12.6%. Loans to Cypriot residents increased by €76.1 million overall. Household borrowing declined by €12.1 million, while lending to non-financial corporations rose by €71.7 million. Loans to other domestic sectors increased by €16.6 million during the month.

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Cyprus Employment Rises 1.7% To 525,167 In Q2 2026

by THEFUTURE.TEAM

September 7, 2026

Cyprus employment increased 1.7% year over year to an estimated 525,167 people in the second quarter of 2026, according to the state statistical service, Cystat. Employees accounted for 472,254 of the total, while 52,913 were self-employed. The increase points to continued labor market growth across both wage employment and independent work.

Trade, Construction And Leisure Lead Employment Growth

Wholesale and retail trade, including motor vehicle and motorcycle repair, recorded some of the strongest employment gains, alongside construction and arts, entertainment and recreation.

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Those sectors are closely linked to domestic economic activity, with trade reflecting consumer demand and construction reflecting investment. Employment growth in leisure-related industries also points to continued activity in consumer-facing services.

Hours Worked Rise Faster Than Employment

Labor input increased faster than headcount. Cystat estimated that employees and other workers put in 246.57 million hours during the second quarter, up 2.2% from a year earlier.

The increase suggests that businesses were not only employing more people but also recording higher total hours worked. Wholesale and retail trade, construction, and arts, entertainment and recreation again recorded the strongest gains.

Labor Market Expansion Remains Broad-Based

The combination of higher employment and hours worked points to continued expansion in Cyprus’ labor market during the second quarter. The pace remains moderate, but gains across several major sectors indicate that labor demand continued to support economic activity.

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