Cyprus bank deposits rise for first time in 17 months

Consumers’ and companies’ deposits rose in Cypriot banks in November, the first increase in 17 months on the island where big account-holders in the two largest lenders were forced to take a hit as part of an international bailout last year.

Private sector deposits rose by 0.8 percent to 35.4 billion euros after a 1.3 percent fall in October, European Central Bank data showed on Friday.

The deposits are still 30 percent below their peak of 50.5 billion euros in May of 2012.