03.09.2022
July 2022 saw an increase in lending rates and a reduction in new loans, according to a report released this week by the Central Bank of Cyprus.
According to the Central Bank, the interest rate on housing loans rose to 2.55% compared to 2.32% in June 2022.
The interest rate on consumer loans also increased to 3.27% from 2.89% in the previous month.
Accordingly, the interest rate on loans to non-financial companies up to EUR 1 million rose to 3.51% from 3.36% in June.
The interest rate on loans to non-financial companies over EUR 1 million also increased to 3.04% from 2.89% in the previous month.
The interest rate on deposits for a period of up to one year from individuals remained unchanged at 0.05% compared to the previous month, while the corresponding rate on deposits from non-financial organizations showed an increase to 0.07% compared to 0.03%. percent in the previous month.
The total amount of new loans in July 2022 decreased and reached 302.3 million euros compared to 436.8 million euros in June.
New home loans fell to 83.2 million euros from 103.8 million euros in the previous month.
New consumer loans also fell to 14.6 million euros from 17.2 million euros in June.
New loans to non-financial companies of up to €1 million fell to €41.3 million from €50.3 million in the previous month.
Finally, new loans to non-financial companies above €1 million fell to €153.2 million from €256.5 million in June.
According to a report published this week, the National Rates Authority earned €203.7 million in the second quarter of 2022.
The performance of the agency this quarter represents a whopping 129% increase compared to the same quarter in 2020, when 88.9 million euros were received, and also 7% more than in the corresponding quarter of 2021, when 190 were received. 5 million euros.
Ioanna Fiakkou, President of the National Rates Agency, stressed that the results of the second quarter of 2022 “best confirm the prospects for the development of the sector.” “The sustainable development of the sector remains an enduring goal of the authority through increased oversight, as well as the introduction of new technologies and modern tools in the implementation of policies and initiatives to protect players, vulnerable groups and society as a whole from any harmful consequences associated with gambling,” she added. she is.
The Cyprus Stock Exchange (CSE) ended Friday, September 2nd with losses.
The overall Cypriot stock market index stood at 73.17 points at 13:31 during the day, reflecting a 0.14% drop from the previous trading day.
The FTSE/CySE 20 Index stood at 43.87, down 0.16%.
The total transaction value was 74,788 euros.
As for the sub-indices, the main index rose by 0.06%, while the alternative index fell by 0.61%. Indices of investment companies and hotels remained stable.
Logicom (no change), Demetra Holdings (no change), Hellenic Bank (-0.22%), Cyprus Cement Company (-2.34%) and Vassiliko Cement Works (-1.53%) attracted the most investment interest.
