Insider Economy Net new lending in Cyprus amounted to €3.19 billion 2019

Net new lending in Cyprus amounted to €3.19 billion 2019

Pure new lending to corporations and households amounted to €3.19 billion in 2019, marking a slight annual increase attributed to large corporate credit over €1 million.

According to data released on Tuesday the Central Bank of Cyprus, gathered by CNA, net new lending (excluding renegotiated loans) in 2019 amounted to €3,194 million, marking a slight increase of 1.61% or €51 million compared to the year before.

Total new loans, including renegotiated loans, amounted to €3.77 billion compared to €3,48 billion in 2018.

According to CBC data, following the 2013 financial crisis, pure new loans rose to 3.23 billion in 2017 which is the highest figures from December 2014 when the CBC began collecting data on pure new loans.

Pure new corporate loans amounted to €1.98 billion, corresponding to 62% of the total pure loans granted in 2019, marking an increase of 2.5% compared to previous year. New corporate loans up to €1 million reached €436 million, down by 13.4% or €68 million compared with 2018, while pure corporate loans over €1 million rose by 116% or 8% compared to 2018.

According to the CBC data, pure new lending to households in 2019 marked a negligible rise reaching €1.23 billion compared with €1.21 billion the year before. New loans for house purchase represented 72% of total new lending to households, marking a marginal increase of 0.64% compared to 2018.

(Cyprus News Agency)

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