InsiderEconomyNew loans in Cyprus decrease to €263.3 in November

New loans in Cyprus decrease to €263.3 in November

Total new loans recorded a decrease to €263.3 million in November 2020, compared with €281.4 million in the previous month, according to data released Tuesday by the Central Bank of Cyprus (CBC). The developments include contracts which were renegotiated.

New loans for consumption increased to €15.7 million, compared with €14.4 million in the previous month.

New loans for house purchase rose to €96.6 million, compared with €83.9 million in the previous month.

New loans to non-financial corporations for amounts up to €1 million registered an increase to €42.7 million, compared with €32.2 million in the previous month.

New loans to non-financial corporations for amounts over €1 million recorded a decrease to €96.4 million, compared with €137.2 million in the previous month.

Deposit Rates
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The interest rate on deposits of  households with an agreed maturity of up to one year remained unchanged at 0.09%, compared with the previous month.

The corresponding interest rate on deposits of non-financial corporations registered a decline to 0.11%, compared with 0.13% in the previous month.

Lending Rates
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The interest rate on consumer credit decreased to 2.96%, compared with 3.12% in the previous month.

The interest rate on loans for house purchase fell to 2.10%, compared with 2.14% in the previous month.

The interest rate on loans to non-financial corporations for amounts up to €1 million increased to 3.23%, compared with 3.16% in the previous month. The interest rate on loans to non-financial corporations for amounts over €1 million recorded a rise to 2.93%, compared with 2.90% in the previous month.

(CNA)

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