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Total new loans increased in May 2022 to €362.9 million

Total new loans increased in May 2022 to €362.9 million

07.07.2022

According to a report released this week by the Central Bank of Cyprus, total new loans increased in May 2022 to €362.9 million .

This was primarily due to both an increase in loans of more than 1 million euros and housing loans.

At the same time, mortgage interest rates rose to 2.28 percent, the highest in about three and a half years.

In addition, the interest rate on household deposits with an agreed maturity of up to one year remained unchanged at 0.05%.

The corresponding interest rate on deposits of non-financial corporations increased to 0.01% from -0.04% in the previous month.

In terms of lending rates, the interest rate on consumer loans fell to 2.91 percent from 3 percent in the previous month.

Moreover, the interest rate on home loans increased to 2.28% from 2.20% in the previous month.

The interest rate on loans to non-financial corporations up to EUR 1 million increased to 3.31% from 3.16% in the previous month.

The interest rate on loans to non-financial corporations in excess of EUR 1 million rose to 2.97% from 2.45% in the previous month.

The total amount of new loans increased to 362.9 million euros in May this year, compared to 264.5 million euros in the previous month.

Of these, new housing loans rose to 114.7 million euros, compared with 73.1 million euros in the previous month.

According to the wholesale and retail trade report published this week by the Statistical Office of Cyprus (Cystat), in 2020 the trade sector in Cyprus has contracted.

According to the data, turnover in the general trade sector fell by 4.8% in 2020, falling to 12.67 billion euros from 13.3 billion euros in 2019.

The sector’s output reached 3.260 billion euros in 2020, down 4.3% from last year.

In the trading sector as a whole, value added at current prices decreased by 2.2% to 2.07 billion euros in 2020, compared to 2.1 billion euros in 2019.

In the wholesale and retail trade and repair of cars and motorcycles, value added decreased by 3.9% to 187.4 million euros.

In wholesale trade, it increased by 0.2%, reaching 922 million euros, while in retail trade it decreased by 3.9%, to 963.3 million euros.

Finally, employment in this sector has declined by 2% in 2020, falling from 73,600 to 72,100.

The Cyprus Stock Exchange (CSE) ended Wednesday, July 6, with a profit.

The overall Cypriot stock market index stood at 66.94 points at 12:51 pm during the day, reflecting an increase of 015% from the previous trading day.

The FTSE/CySE 20 index stood at 40.04 points, up 0.13%.

The total transaction value was 24,016 euros.

As for the sub-indices, the alternative index declined 0.22%, while the main indices, investment company indices and hotel indices remained stable.

Bank of Cyprus (+2.71%), Hellenic Bank (-2.5%), Cyprus Cement Company (no change), KEO (-2.4%) and Logicom (no change) attracted the highest investment interest.

Source and photo: www.cyprus-mail.com, Editor estateofcyprus.com
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