InsiderEconomySuspended installments at request of borrowers at € 1.31 b in June

Suspended installments at request of borrowers at € 1.31 b in June

 

 

The total amount of suspended installments at the request of borrowers rose to €1.31 billion on June 5 2020, from €1.26 billion on May 22.

The measure was introduced to help mitigate the impact of the lockdown due to the coronavirus outbreak on cash-strapped consumers.

According to data by the Central Bank of Cyprus (CBC) released on Tuesday, from a total of 49,043 borrowers applied for a loan suspension, 43,046 were for households and 5,997 for businesses.

According to the data, concerning loans that were delayed for up to 30 days in both licensed credit institutions and credit acquisition companies, out of the total amount of suspended installments, an amount of €915.97 million relates to corporate loans and €397.88 million to household loans.

The contractual value of the loans for which a suspension of installments was requested, rose to €11.44 billion on June 5, from €10.77 billion on May 22, of which €6.87 billion relates to corporate loans and the remaining €4.56 billion concerns household loans.

The largest amount of corporate loans for which a suspension of installments was requested until June 5, 2020, concerns the hospitality and catering sector with a gross value of €1.71 billion and 710 borrowers.

It is followed by the real estate sector with €1.28 billion (672 borrowers), construction with €1.12 billion (608 borrowers) and wholesale and retail trade with €1.10 billion (1,732 borrowers).

The value of the loans in the manufacturing sector for which suspension of installments was requested is €440.13 million (559 borrowers).

(CNA)

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