Cyprus bank deposits reached a record high in March 2026, rising by €426.8 million on the month to a total of €57.8 billion, according to data released by the Central Bank of Cyprus.
The annual rate of change in total deposits climbed to 5.6% in March, up from 4.7% in February, outpacing the economy’s growth rate. Total deposits were up €1.92 billion compared with March 2025.
The Central Bank data also shows Cyprus holds the highest liquidity ratio in the eurozone at 319%, reflecting both a strong household and business savings culture and limited availability of alternative investment products for citizens.
Breaking down the March deposit figures, deposits by Cyprus residents rose €344.1 million. Household deposits by Cyprus residents fell €138.1 million over the month, while deposits by non-financial corporations rose €158.3 million. Deposits from other domestic sectors increased by €323.9 million in total.
Businesses had built up a liquidity buffer of €12.26 billion by end-March, while household deposits by Cyprus residents stood at €30.12 billion — the highest level on record, according to the data.
Phileleftheros noted that rising aggregate deposit figures do not necessarily indicate that wealth is evenly distributed across depositors, and that the Central Bank has never published data on deposit brackets or provided breakdowns in its analyses.
Loan growth also accelerated in March. Total loans rose by a net €528.1 million, up from a net increase of €326.2 million in February.
The annual rate of change in total loans reached 12.6%, compared with 12.3% in February — a rate the newspaper described as several times higher than the economy’s growth rate. Total loans outstanding stood at €27.9 billion at end-March.
Loans to Cyprus residents increased by €72.3 million. Household loans rose €52.3 million and loans to non-financial corporations increased €37.3 million, while loans to other domestic sectors fell €17.3 million.