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January Brings Shift In Financial Flow: Deposits Down, Loans Mixed

In a notable reversal from the previous month, January 2025 witnessed a net decrease in total deposits by €211.3 million, contrasting sharply with December 2024’s net increase of €977.4 million, according to the latest data from the Central Bank of Cyprus.

The decline was reflected in the annual growth rate of deposits, which stood at 6.9%, slightly up from 6.6% in December 2024, bringing the total outstanding deposits to €55.7 billion. This January decrease was particularly noted among Cyprus residents, who saw a drop of €81.2 million. Despite this, household deposits actually rose by €111.1 million, while non-financial corporations’ deposits fell by €57.1 million.

Conversely, total loans experienced a net decrease of €45.6 million, a stark contrast to the €503.2 million increase in December 2024. Yet, the annual growth rate of loans rose to 3.2%, up from 2.8% in December. Loans to households decreased by €10.2 million, while those to non-financial corporations showed a promising increase of €64.4 million.

For those keen on Cyprus’ emerging innovation sectors, our related article offers an insightful look at the island’s broader economic potential—unlocking opportunities that extend well beyond traditional financial metrics.

Larnaca Named One Of Europe’s Best Autumn Sun Destinations

Larnaca has been named the third-best destination in southern Europe for an autumn getaway, according to Quotezone’s 2026 Shoulder Season Index.

The Cypriot city ranked behind Antalya in Turkey and Tenerife in the Canary Islands, while Crete and Malta completed the top five. The index assessed destinations based on factors including temperatures, sunshine, rainfall and accommodation costs.

Autumn Holidays Gain Popularity

The ranking comes as more travellers consider moving their holidays away from the peak summer season. Quotezone found that 48% would consider taking their main annual holiday in autumn, while 52% said they would avoid southern Europe during summer because of high temperatures.

Cost is another factor, with 26% of respondents citing cheaper prices as a reason to travel in autumn. Meanwhile, 42% said they would wait for a last-minute price reduction, and 11% said they always look for an autumn deal.

Fewer crowds also appeal to travellers, with 21% choosing autumn for lower congestion and 16% valuing the smaller number of children travelling during the season.

Larnaca Offers Warm Autumn Conditions

Larnaca’s position in the ranking reflects its favourable weather in September and October. Average air temperatures reach 25.5°C, while the sea remains around 27°C.

Rainfall is also limited, with just 12mm recorded across the two months in the index’s assessment. That makes the city particularly suitable for visitors looking for beach weather beyond the traditional summer season.

Antalya Takes First Place

Antalya topped the ranking with around 9.5 hours of sunshine per day and average temperatures of 27.6°C during September and October. Sea temperatures average 27.5°C, while rainfall stands at around 42mm.

Tenerife came second, helped by warm weather and relatively little rainfall, while Crete ranked fourth with around eight hours of sunshine daily. Malta completed the top five.

Budva in Montenegro ranked ninth and Dubrovnik in Croatia tenth.

A Longer Tourism Season For Cyprus

Quotezone travel insurance expert Helen Rolph said the shoulder season was becoming increasingly attractive as travellers looked for warm weather without the extreme heat and higher prices associated with summer.

For Cyprus, Larnaca’s ranking highlights the island’s potential to attract visitors beyond the traditional peak season. Warm temperatures, high sea temperatures and limited rainfall make the city a strong option for late-season holidays.

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