Formal & Mobile Money Borrowing Statistics in Cyprus (2026)
In 2021, 31.2% of adults in Cyprus borrowed from a formal financial institution or using a mobile money account, according to World Bank Global Findex data. Up from 24.9% in 2017 to 31.2% in 2021 (+6.4 percentage points). Cyprus ranks #23 of 46 economies in Europe & Central Asia on this measure, and #39 of 142 globally.
Key Statistics
- Latest value (2021)
- 31.2% (2021)
- Formal & Mobile Money Borrowing in Cyprus as of 2021, the most recent observation in World Bank Global Findex data.
- Change since 2017
- +6.4 pp (2021)
- Up from 24.9% in 2017 to 31.2% in 2021 (+6.4 percentage points).
- Earliest value in this dataset (2014)
- 29.3% (2014)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Up from 29.3% in 2014 to 31.2% in 2021.
- Record high (2021)
- 31.2% (2021)
- The 2021 value is the highest in the available World Bank Global Findex series for Cyprus.
- Rank in Europe & Central Asia
- #23 of 46 (2021)
- Cyprus ranks 23 of 46 countries in Europe & Central Asia with data, based on each country's latest value.
- Global rank
- #39 of 142 (2021)
- Cyprus ranks 39 of 142 countries with data globally.
- Europe & Central Asia average
- 33.4% (2021)
- Cyprus (31.2%) is below the average of 33.4% across the 46 countries in Europe & Central Asia with data.
- Borrowed from a formal bank or similar financial institution (% age 15+) (2021)
- 31.2% (2021)
- Related indicator from World Bank Global Findex.
- Internet use in Cyprus (2024)
- 89.6% (2024)
- 89.6% of the population in Cyprus used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 1.4 million (2024)
- Cyprus had a population of 1.4 million in 2024 (World Bank); shown for scale only.
Trend, 2014–2021
| Year | % of adults (age 15+) | Change |
|---|---|---|
| 2021 | 31.2% | +6.4 pp |
| 2017 | 24.9% | −4.5 pp |
| 2014 | 29.3% | — |
Frequently asked questions
What share of adults in Cyprus borrowed from a formal financial institution or using a mobile money account?
31.2% of adults in Cyprus borrowed from a formal financial institution or using a mobile money account in 2021, according to World Bank Global Findex data.
How has formal & mobile money borrowing in Cyprus changed over time?
World Bank Global Findex data show a rise from 29.3% in 2014 to 31.2% in 2021.
How does Cyprus compare with other countries in Europe & Central Asia?
Cyprus ranks 23 of 46 countries in Europe & Central Asia with data, with 31.2% versus a regional average of 33.4% (latest values per country).
Where does Cyprus rank globally on formal & mobile money borrowing?
Cyprus ranks 39 of 142 countries with data globally, based on the latest World Bank Global Findex value for each country.
Source & methodology
Source: World Bank Global Findex, indicator
fin22a.22a1.22g.d, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .