The Impact of Deposits in Cyprus
In a recent report by the Central Bank of Cyprus, it was revealed that total deposits in the country experienced a significant decrease last month. This decline amounted to 44.1 million euros, which is a stark contrast to the previous month’s net increase of €925.7 million in May.
These statistics, outlined in the July 2024 edition of Monetary and Financial Statistics, shed light on the fluctuations within the banking sector in Cyprus. The decrease in deposits indicates a shift in financial activities and investor sentiment within the country.