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Total of €362.9 mln in new loans this May

Total of €362.9 mln in new loans this May

06.07.2022

Total new loans increased to 362.9 million euros in May this year, according to data released by the Central Bank of Cyprus on Tuesday, which is mainly due to both an increase in loans of more than 1 million euros and loans for the purchase of houses.

At the same time, mortgage interest rates increased to 2.28%, the highest in almost three and a half years.

In particular, according to official data, the interest rate on deposits of individuals with an agreed maturity of up to one year remained unchanged at 0.05% compared with the previous month.

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 decreased to 2.91% from 3.00% in the previous month.

At the same time, 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 over EUR 1 million increased to 2.97% from 2.45% in the previous month.

In terms of new loans, data from the Central Bank show that total new loans increased to 362.9 million euros in May this year, compared to 264.5 million euros in the previous month.

In particular, new consumer loans rose to 19.4 million euros from 13.0 million euros in the previous month.

New home loans increased to 114.7 million euros, compared to 73.1 million euros in the previous month.

New loans to non-financial corporations up to €1 million rose to €55.1 million from €51.0 million in the previous month.

New loans to non-financial corporations of over €1 million increased to €162.5 million from €120.5 million in the previous month.

Source and photo: www.stockwatch.com.cy, Editor estateofcyprus.com
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