Cyprus Banking Sector Sees Modest Yet Resilient Growth In Deposits And Loans

by THEFUTURE.TEAM

January 5, 2026

Overview

The Central Bank of Cyprus (CBC) reported a sustained increase in both bank deposits and loans throughout November 2025, underscoring steady household savings and a tempered expansion in credit despite a notable deceleration compared to October.

Domestic Deposit Surge

In November, total deposits experienced a net increase of €330.8 million, albeit lower than the €412.3 million recorded in the previous month. Notably, residents of Cyprus spearheaded this growth, contributing €258.6 million to the overall gain and pushing the deposit balance to €57.9 billion. This robust domestic performance is reflected in an annual growth rate that climbed to 6.7% from 6.3%, highlighting enduring confidence among local savers.

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Measured Credit Expansion

Meanwhile, loan figures indicated a net rise of €71.5 million month-on-month, even though the momentum slowed compared to the €336.6 million surge in October. Household borrowing played a pivotal role, with €50.3 million of the increase directly attributed to consumer finance and housing loans. This trend is underscored by the annual loan growth rate, which edged upward to 10.5% from 10.2% in October, demonstrating a cautious yet ongoing expansion in domestic credit.

Strategic Economic Implications

The analyzed data underscores a dual narrative: while consumers continue to trust local banking institutions with their savings, there is a measured approach to further credit allocation. The balance between robust domestic deposits and a moderated lending environment reveals an economy that is both resilient and strategically cautious in its expansion efforts. These factors together offer vital insights for investors and policymakers tracking economic trends in Cyprus.

Conclusion

Ultimately, the latest statistics from the Central Bank of Cyprus highlight an evolving banking landscape where domestic savers remain pivotal. The overall figures, marked by steady credit growth and a strong deposit base, reflect both the opportunities and challenges inherent in maintaining economic stability in a dynamic global environment.

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Google Cloud Outage Disrupts Banking And Digital Services Across The UK

by THEFUTURE.TEAM

October 20, 2026

A power outage at a Google Cloud data centre near London disrupted services across the UK on Tuesday, affecting banks, businesses and other digital platforms. Google said the incident was caused by a power event at its cloud operations, with full recovery expected by around 1300 GMT.

The disruption began at 0608 GMT and affected Google Cloud services in the europe-west2 region, which is hosted in London. In an initial update, the company reported elevated error rates and intermittent network failures across multiple services as engineers worked to restore operations.

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Banking Services Hit By The Disruption

Revolut was among the most visibly affected companies, with customers reporting problems with ATM withdrawals, bank transfers and card top-ups. A source close to the matter linked the issues to the Google Cloud outage.

Traditional banks also reported disruptions. Lloyds said some customers were experiencing problems with its app and online banking, while HSBC confirmed difficulties accessing its services. HSBC added that it was monitoring the situation and noted that other organisations were affected as well.

Disruption Spreads Beyond Finance

Downdetector, which tracks online service disruptions, recorded hundreds of reports involving other businesses, including property website Rightmove and the Royal Mail postal service. The reports suggested that the outage was affecting multiple parts of the UK’s digital economy.

The incident highlights the risks facing businesses that depend on shared cloud infrastructure. Even a temporary failure at a single provider can disrupt services across several sectors, from banking and payments to logistics and consumer platforms.

Companies Reassure Customers

Revolut said it had been working to resolve the issue since it was identified and apologised to affected customers. The company also confirmed that customers’ money and data remained safe.

As cloud platforms underpin an increasing share of digital commerce, the outage illustrates how disruptions to critical infrastructure can spread far beyond the provider itself, affecting businesses and customers across the economy.

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