Cyprus Bank Deposits Rebound As Lending Growth Accelerates

Cyprus’ banking sector recorded higher deposits and lending in May 2026, according to the latest monetary financial institutions data released by the Central Bank of Cyprus (CBC).

Deposits Rebound After April Decline

Total deposits increased by €343.8 million in May, reversing a net decline of €123.1 million recorded in April. The annual growth rate accelerated to 5.1%, up from 4.5% a month earlier. By the end of May, total deposits stood at €58 billion.

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Cyprus residents accounted for most of the monthly increase, with deposits rising by €239 million. Household deposits grew by €171.3 million, while non-financial corporations increased their deposits by €194 million.

Those gains were partly offset by a combined decline of €126.2 million in deposits held by other domestic sectors.

Lending Growth Accelerates

Total loans increased by €260.3 million in May, compared with a €40.5 million rise in April. The annual growth rate also strengthened, reaching 12.6% from 12.0% the previous month. Outstanding loans totalled €28.1 billion at the end of May.

Lending to Cyprus residents rose by €173.7 million during the month. Household borrowing increased by €52.7 million, while loans to non-financial corporations grew by €63 million. Lending to other domestic sectors expanded by €58 million.

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Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

by News Editor

August 17, 2026

Shein is reportedly targeting a valuation of around $25 billion in its planned Hong Kong IPO, a sharp decline from the nearly $100 billion valuation the online fashion retailer achieved in a 2022 fundraising round.

Two people familiar with the plans said the company was likely to target about $25 billion, while another source put the expected range at $25 billion to $28 billion based on the proposed price band.

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IPO Valuation Falls Sharply

Shein plans to sell up to 8% of its shares in the offering, according to a person familiar with the plans. At a $25 billion valuation, that would translate into an IPO of as much as $2 billion.

The latest target is also below the $30 billion to $40 billion valuation the company was seeking earlier this month as it began meeting with potential investors.

Founded in China in 2012 and now headquartered in Singapore, Shein sells low-cost clothing to consumers in about 160 countries. The company is expected to launch its long-awaited Hong Kong IPO later this week.

Trade Restrictions Weigh On Growth

Shein’s valuation has come under pressure as major markets tighten rules affecting low-cost e-commerce shipments. The European Union, for example, has moved to impose additional fees on cheap parcels from platforms such as Shein and Temu. EU Tightens Rules On Low-Cost E-Commerce Parcels

In the U.S., the removal of an import duty exemption for small packages has also affected the company. Shein reported a $99 million quarterly loss in the first quarter of 2026 as sales growth slowed, while a one-time accounting charge further weighed on its results. Shein Reports First-Quarter Loss Ahead Of IPO

Investors Question Shein’s Growth Prospects

The steep reduction in valuation reflects growing concerns over slower growth, higher trade costs, regulatory pressure and stronger competition across global e-commerce.

Some investors who reviewed Shein’s recent financial statements or attended IPO presentations told Reuters they were skeptical that the company could return to the growth rates that supported its $98.2 billion valuation in 2022. Shein’s Slowing Growth Tests Investor Appetite

A lower IPO valuation could also affect Shein’s existing investors. Under the terms of its IPO filing, the company may have to issue additional shares to certain pre-IPO investors if its valuation falls below agreed thresholds.

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