Central Bank Of Cyprus Presents Fresh Report On Loans And Interest Rates

Центробанк Кипра представил свежий отчёт по кредитам и процентным ставкам
21 June 2021 DOM LiVE

The Central Bank presented on Monday, June 21 a fresh report on the status of loans in the banking system of Cyprus from January to April 2021, as well as changes in interest rates.

According to the country's main financial institution, in the first four months of the year, the total amount of new loans issued reached €834.3 million, compared with €625 million in the corresponding period last year. Thus, the growth was 33.5%.

€420.9 million came from companies and €413.4 million from households.

New small loans to non-financial corporations (less than €1 million) were up 92.3% to €187.1 million (€97.3 in 2020). New loans to non-financial corporations of €1 million and more decreased by 6% to €233.8 million (€248 million in 2020).

The volume of loans issued to companies increased by 21.7% (from €345.9 million to €420.9 million).

The amount of new loans issued to households for the period from January to April 2021 increased by 48.1% and reached €413.4 million: consumer loans cost €47.1 million, mortgages - €314.6 million, other loans - €51.7 million.

Thus, the volume of mortgage loans increased by 71.4%, and consumer loans - by 13.8%. On the other hand, the volume of loans for other needs decreased by 4.6%.

Центробанк Кипра представил свежий отчёт по кредитам и процентным ставкам

In turn, in April 2021, the interest rate on new mortgage loans increased by 0.06% and amounted to 2.18% compared to 2.12% in the corresponding month of the last year.

At the same time, the total annual percentage rate (APR), which includes in addition to the interest rate and related fees such as research, administration, preparation of documents, guarantees, etc., increased by 0.19% to 2.92% (2.73% in 2020).

The interest rate on loans to non-financial corporations of less than €1 million increased to 3.35% in April 2021 (2.97% in the previous month).

Source: dialogos.com.cy
Photos: pixabay.com
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