Total deposits in Cyprus decreased by EUR 211.3mn in January and stood at EUR 55.7bn

Macro/Political

• The Greek PDMA announced that Hellenic Republic will auction 52 Weeks T-Bills, on March 5, with Maturity March 6, 2026. The amount to be auction is EUR 500mn.

Source: PDMA

• Total deposits placed by the private sector in January 2025 decreased by EUR 4,787mn compared with an increase of EUR 5,592mn in December 2024.The annual growth of total deposits decreased to 4.3% in January 2025 from 4.6% in December 2024.The annual growth rate of total credit extended to the domestic economy increased to 7.1% in January 2025 from 5.3% in the previous month.

Source: BoG

Markets

• Eurobank’s net profit in 4Q24 stood at EUR 313mn compared to EUR 413.6mn in 3Q24. FY24 net profit was EUR 1,447.8mn compared to EUR 1,139.5mn in FY23. The Bank’s NPE ratio reduced to 2.9% VS 3.5% last year. Total Capital ratio and CET1 ratio (pro forma) stood at 18.5% and 15.7%.

Source: athexgroup.gr

• Alpha Services and Holdings S.A announced, that it has reached a binding agreement of the key financial and legal terms for the acquisition of substantially the whole of banking assets , liabilities, and personnel of AstroBank Public Company Ltd. The Transaction will be implemented through wholly owned subsidiary Alpha Bank Cyprus Ltd.

Source: athexgroup.gr

• Alpha Bank’s net profit (normalized after tax) in 4Q24 stood at EUR 196mn compared to EUR 228mn in 3Q24. FY24 net profit (normalized after tax) was EUR 861mn compared to 787mn in FY23. The Bank’s NPE ratio reduced to 3.8% VS 6% last year. Total Capital ratio and CET-1 ratio stood at 21.9% and 16.3%.

Source: athexgroup.gr

Macro/Political

• Total deposits in January 2025 recorded a net decrease of EUR 211,3mn, compared with a net increase of EUR 977,4mn in December 2024. The annual growth rate of total deposits stood at 6.9%, compared with 6.6% in December 2024. The outstanding amount of total deposits reached EUR 55.7bn. Total loans in January 2025 recorded a net decrease of EUR 45.6mn, compared with a net increase of EUR 503.2 mn in December 2024. The annual growth rate stood at 3.2%, compared with 2.8% in December 2024 . The outstanding amount of total loans reached EUR 25,4bn.

Source: CBC

• According to Cystat, the unemployment rate for 4Q24 stood at 4.6% in comparison to 5.4% in 4Q23.

Source: CyStat

• In December 2024, the Industrial Production Index , recorded an increase of 3.3% (m-o-m). For the period January-December 2024, the index recorded an increase of 3% (y-o-y).

Source: CyStat