Cyprus Banking Rates: Steady Household Deposits and Shifting Mortgage And Business Loan Trends

by THEFUTURE.TEAM

October 16, 2025

Overview Of August Developments

The Central Bank of Cyprus (CBC) has released its August 2025 report outlining the performance of deposit and loan interest rates across all credit institutions. Notably, household deposit rates have remained constant while business deposit rates experienced a decline. Meanwhile, the average mortgage rate increased and business loan rates saw a modest reduction, signaling evolving conditions in the financial sector.

Mortgage Loan Rates Rise Amid Competitive Dynamics

The CBC data indicates that the average interest rate for housing loans to Euro area residents increased from 3.90% in July 2025 to 4.01% in August 2025. The Bank of Cyprus recorded the highest rate of 4.64%, although this figure marked a decrease from 4.96% in the previous month. In contrast, Alpha Bank Cyprus offered the most competitive rate at 2.27%, down from 3.29%. Other key players, including the Housing Finance Corporation and Hellenic Bank, reported rates of 3.67%, while Ancoria Bank’s average rate shifted from 3.22% to 3.63%.

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Business Loan Rates Experience A Subtle Decline

The report also highlights a marginal drop in the average rate on new business loans up to €1 million, decreasing from 4.46% in July 2025 to 4.44% in August 2025. Despite this overall reduction, institution-specific variations were evident. Astrobank, for instance, posted a peak rate of 6.45%, an increase from 5.75%, whereas Hellenic Bank maintained competitive lending with a rate of 3.72%, down from 3.88%. Banque SBA and Societe Generale also displayed mixed trends, while the Bank of Cyprus showed a modest decrease from 4.96% to 4.91%.

Household And Business Deposits: Divergent Movements

In the deposit sector, the average interest rate on household time deposits with maturities up to one year remained steady at 1.08% in August 2025, aligning closely with the broader euro area average of 1.71%. The National Bank of Greece (Cyprus) led with a rate of 1.47%, whereas the Housing Finance Corporation continued to offer the lowest rate at 0.75%.

For business deposits, the average rate decreased by six basis points to 1.15%, compared to 1.21% in the previous month. Alpha Bank remained at the forefront with a rate of 1.41%, while the Housing Finance Corporation again reported the lowest rate, now at 0.21%. Hellenic Bank and Ancoria Bank both registered a rate of 1.30%, with additional institutions like Astrobank, Eurobank, the Cyprus Development Bank, and the Bank of Cyprus reflecting consistent adjustments in their rates.

Conclusion

The CBC’s August report illustrates a nuanced financial landscape in Cyprus. With household deposit rates holding steady and mortgage rates experiencing a rise, financial institutions continue to navigate competitive pressures and customer demands. As business loan and deposit rates adjust, stakeholders should remain attentive to these trends, which may influence broader economic decisions and investor sentiment.

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Cyprus-Based ASBIS Hits Record $1.05bn In Monthly Revenue, Up 216% Year On Year

by News Editor

October 21, 2026

The technology distributor ASBIS Group, headquartered in Limassol, has exceeded $1 billion in monthly sales for the first time in its history, reporting preliminary consolidated revenue of $1.05 billion in September 2026, more than three times the amount recorded a year earlier.

The figure represents a 216% increase from $332 million in September 2025, making it the highest-revenue month in the company’s history.

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ASBIS reported its strongest sales growth in servers and server components, while CEO Serhei Kostevitch pointed to growing demand for artificial intelligence solutions and computing infrastructure as an opportunity for the business.

For a company operating across Europe, the Middle East and Africa, September marked a new sales milestone following several months of substantial year-on-year growth.

Kostevitch attributed the record performance to the group’s existing operations, highlighting its broad product portfolio, international market presence and strong relationships with manufacturers and trading partners.

“Most importantly, this result is the outcome of our regular operating activities,” he said.

The CEO also highlighted the company’s portfolio of projects as a reason for confidence in continued AI-related development.

However, the group’s growth was not limited to AI-related technologies. Smartphones also performed strongly in September, with Kostevitch stressing that “we are growing beyond the AI segment as well.”

Kazakhstan, the United Arab Emirates and Ukraine accounted for the largest shares of ASBIS’s September revenue, followed by Slovakia and Poland.

Growth Follows Record First Half

September’s results follow a period of strong financial performance for ASBIS.

In July, the company reported preliminary consolidated revenue of $531 million, an increase of 89% compared with the same month in 2025. August brought a further rise to $604 million, up 91% year on year.

September’s $1.05 billion figure represents a substantial increase on both months, although the company has not provided a detailed breakdown explaining the acceleration.

The results also follow a record first half of 2026, when ASBIS generated approximately $2.97 billion in consolidated revenue, up 76% year on year.

Net profit after tax reached $80.6 million, compared with $19.4 million in the same period in 2025.

The second quarter was particularly strong, with revenue reaching $1.69 billion, an increase of 78.7%, while quarterly net profit more than tripled to $44.3 million.

ASBIS has emphasised that its September revenue figures are preliminary estimates and may differ from the final reported results.

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