Deposits of Cypriot businesses reached a historic €12.5 billion in July 2025, up from €11.7 billion at the end of last year and €9.18 billion in December 2019, according to Central Bank of Cyprus (CBC) figures released this week.

Household deposits stood at €29.3bn, compared with €28.9bn in December 2024 and €23.8bn in 2019, marking an increase of 22.9 per cent since before the pandemic.

Overall, domestic residents’ deposits amounted to €49.1bn, stable from June and up from €48bn at the end of 2024.

Total deposits across the banking system came to €56.58bn in July, slightly lower than €56.62bn in June, after a net monthly decline of €154.5 million.

This followed three months of gains and compared with a €654.7m rise in June.

Cyprus recorded a general government surplus of €840.6 million in the first seven months of 2025, corresponding to 2.4 per cent of GDP, according to preliminary fiscal results published by the Statistical Service of Cyprus (Cystat) on Friday.

The figure was slightly lower than the €911.7m surplus, or 2.7 per cent of GDP, registered in the same period of 2024.

Total revenue between January and July increased by €391.7m, or 4.8 per cent year-on-year, reaching €8.50 billion, compared with €8.10bn in 2024.

Revenue from taxes on income and wealth rose by 8.8 per cent to €2.03bn, up from €1.87bn a year earlier. Social contributions climbed by 9.2 per cent to €2.77bn, compared with €2.54bn in 2024.

Property income almost doubled to €113m from €58.6m a year earlier.

Hellenic Bank has received all necessary supervisory approvals to complete its merger with Eurobank Cyprus on September 1, according to the announcement, marking what it described as a new chapter for the country’s banking sector.

Under the transfer of Banking Business and Collateral of 1997, all assets and liabilities of Eurobank Cyprus will be transferred to Hellenic Bank on that date.

The consolidation will create a strong and modern financial institution, which the lender said will be able to offer upgraded banking and insurance services while supporting the development of the Cypriot economy.

At the same time, the bank confirmed that the process of changing its name from Hellenic Bank Public Company Ltd to Eurobank Limited is progressing.

It is mentioned in the statement that the new brand reflects the vision and strategy of the Eurobank Group, combining dynamism, innovation and a customer-centric approach.

Invest Cyprus and the Institute of Certified Public Accountants of Cyprus (Selk) have signed a Memorandum of Understanding (MoU) to enhance cooperation and further develop the Cyprus business ecosystem.

The agreement provides a framework for closer collaboration, with both organisations set to share expertise, exchange information and promote initiatives that support the professional services sector and attract foreign direct investment.

Planned joint activities include business meetings, conferences, roundtables and sector-specific reports, as well as the exchange of insights on regulatory and economic developments.

Commenting on the partnership, Invest Cyprus chairman Evgenios Evgeniou said the agreement reflected a shared vision of strengthening Cyprus’ competitiveness and creating what he described as “a thriving, transparent, and sustainable business environment.”

The Industrial Production Index in Cyprus reached 115.9 units in June 2025, based on 2021 as the reference year, reflecting an annual increase of 0.8 per cent compared to June 2024, according to data released by the Cyprus Statistical Service (Cystat).

Over the first half of the year, the index rose by 3 per cent compared to the same period in 2024, showing steady overall growth.

In terms of sectors, the manufacturing industry recorded a 4 per cent increase compared to June 2024, while mining and quarrying rose by 9.6 per cent and water supply and materials recovery by 6.4 per cent.

However, the electricity supply sector moved in the opposite direction, registering a sharp decline of 18.2 per cent.

Within manufacturing, the strongest gains were seen in the production of other non-metallic mineral products, which grew by 12.9 per cent, rubber and plastic products, which rose by 10.5 per cent, and electronic and optical products and electrical equipment, which climbed by 8.7 per cent. In addition, wood and cork products, excluding furniture, expanded by 8.3 per cent.

The Cyprus Securities and Exchange Commission (CySEC) has issued a warning this week to investors regarding a number of websites that are not authorised to provide investment services or perform investment activities.

CySEC said the websites in question do not belong to any entity which has been granted authorisation under the relevant legislation.

The Index of Industrial Output Prices in Cyprus stood at 122.8 units in July 2025, based on 2021 as the reference year, showing a decrease of 0.2 per cent compared to June, according to the Statistical Service (Cystat)reported on Friday.

Compared with July 2024, however, the index recorded a sharper decline of 1 per cent.

Moreover, for the period January to July 2025, it marked a drop of 0.3 per cent compared with the same period of last year.

By sector, July 2025 compared with the previous month saw stability in mining and quarrying, while at the same time decreases were recorded in electricity supply (0.6 per cent), water supply and materials recovery (0.2 per cent) and manufacturing (0.1 per cent).

Looking at changes year-on-year, mining and quarrying rose by 7.7 per cent and manufacturing increased by 1.1 per cent.