Insider Economy New loans record €98.2 million increase in September, Central Bank says

New loans record €98.2 million increase in September, Central Bank says

Total new loans recorded an increase of €98.2 million, to €315.6 million in September 2020, compared with €217.4 million in the previous month, according to figures released on Monday by the Central Bank of Cyprus.

The Central Bank noted that new loans for consumption increased to €15.3 million, compared with €13.5 million in the previous month, while new loans for house purchase recorded a rise to €97.2 million, compared with €55.9 million in the previous month.

New loans to non-financial corporations for amounts up to €1 million registered an increased to €38.9 million, compared with €37.0 million in the previous month.

New loans to non-financial corporations for amounts over €1 million rose to €151.1 million, compared with €100.5 million in the previous month.

According to the Central Bank, the interest rate on deposits from households with an agreed maturity of up to one year remained unchanged at 0.10%, compared with the previous month.

The corresponding interest rate on deposits from non-financial corporations fell to 0.05%, compared with 0.16% in the previous month.

The Central Bank said the interest rate on consumer credit increased marginally to 3.09%, compared with 3.08% in the previous month.

The interest rate on loans for house purchase recorded a rise to 2.12%, compared with 2.08% in the previous month.

The interest rate on loans to non-financial corporations for amounts up to €1 million declined to 3.17%, compared with 3.20% in the previous month.

Furthermore, the interest rate on loans to non-financial corporations for amounts over €1 million registered an increase to 3.22%, compared with 3.05% in the previous month.

(CNA)

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