02.08.2022
Net new credit provided by Cypriot banking institutions in June rose to 343.6 million euros, an increase of 32% compared to the previous month, according to data released on Tuesday by the Central Bank of Cyprus (CBC).
Net new loans extended between January and June 2022 totaled $1.72 billion, up 26% year-on-year, according to the CBC.
The monthly increase in net new credit in June is attributed to loans of more than €1 million , which amounted to €187.5 million (the highest level in 2022) compared to €93.5 million in the previous month. Net new loans of up to € 1m rose slightly to €44.6m in June from €44.1m in May, the CBC added.
The rest of net new loans declined in June. Consumer credit was 15.7 million euros in June from 17.1 million euros a month earlier, housing loans fell to 93.8 million euros from 97.5 million euros in May, while other net loans fell to 4. 2 million euros in June from 10.2 million euros in the previous month.
From January to June, housing loans registered the largest share of net new loans at €693.5 million or 40% of total net new loans, followed by loans over €1 million at €626.1 million. or 36% of total net new loans. new loan.
Net new loans up to €1 million were €274.6 million, representing 16% of total new loans issued in the first half of 2022, while consumer loans reached €77.9 million, or 4.5 % of total new loans. Other net new loans amounted to EUR 40.5 million or 2.36% of total new loans.
Restructured loans totaled 90.6 million euros in June, compared to 100.5 million euros in the previous month, according to the CBC.
