04.08.2022
The Central Bank of Cyprus (CBC) released a report this week showing that net new loans provided by Cypriot banks in June rose to 343.6 million euros, representing a 32% increase from the previous month.
Net new credit extended between January and June 2022 was €1.72 billion , up 26% from last year.
The monthly increase in net new credit in June was mainly due to loans in excess of EUR 1 million , which totaled EUR 187.5 million.
The same figure was 93.5 million euros in the previous month.
Net new loans of up to €1 million increased to €44.6 million in June from €44.1 million in May.
According to a report released this week by the Central Bank of Cyprus (CBC), interest rates on deposits in Cyprus remained close to zero in June, while lending rates fluctuated slightly.
In June, the interest rate on household deposits with an agreed maturity of up to one year remained unchanged at 0.05% compared to March 2022.
In addition, non-financial corporate deposit rates increased to 0.03%, up 0.02% from the previous month.
In terms of loans, the consumer loan interest rate decreased to 2.89% from 2.91% in March 2022.
The interest rate on home loans rose to 2.32% from 2.28% a month earlier.
In addition, the interest rate on loans to non-financial corporations up to EUR 1 million increased to 3.36% from 3.31% in the previous month.
The interest rate on loans to non-financial corporations over EUR 1 million decreased to 2.89% from 2.97% in March 2022.
The Cyprus Stock Exchange (CSE) ended Wednesday, August 3rd with a marginal gain.
The overall Cypriot stock market index stood at 68.46 points at 13:02 during the day, reflecting an increase of 0.07% from the previous trading day.
The FTSE/CySE 20 index stood at 41.03 points, up 0.07%.
The total transaction value was 13,557 euros.
As for the sub-indices, the main, alternative and investment indexes of companies rose by 0.05%, 0.02% and 0.07% respectively, while the hotel index remained stable.
Salamis Tours (no change), Bank of Cyprus (+0.48%) and Logicom (-0.57%) attracted the most investment interest.
