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Reduction in total new loans-The fluctuation of interest rates

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ΜεΙωση των συ&nu ;ολικoν νeων δανεiων-Η διακyμανση των επιτοκiων

Total new loans decreased in April reaching €473.9 million, compared to €922.5 million the previous month, according to the Central Bank of Cyprus.

The CBC published on Tuesday the interest rate statistics of the monetary financial institutions of Cyprus for deposits and loans of eurozone residents in euros, as well as data on amounts of new loans to eurozone residents in euros for the reference month April 2023.

< p data-block-key="64t7j">These figures are included in the Monetary and Financial Statistics, May 2023 edition.

In relation to deposit rates, it is reported that the rate for deposits with a term of up to one year from households decreased to 0.41%, compared to 0.47% in the previous month, while the corresponding rate for deposits from non-financial companies showed a decrease to 0.73%, compared to 1.12% in the previous month.

On loan rates, the CBC reports that the interest rate on consumer loans decreased to 4.85%, compared to 5.05% the previous month, and the interest rate on home loans decreased to 4.45%, compared to 4.67% the previous month.

Besides, the interest rate regarding loans to non-financial companies for amounts up to €1 million showed a decrease to 5.31%, compared to 5.60% the previous month. The interest rate for loans to non-financial companies for amounts above €1 million registered an increase to 5.41%, compared to 5.29% the previous month.

In April 2023, total new loans showed a decrease and reached €473.9 million, compared to €922.5 million in the previous month. Specifically, new consumer loans decreased to €18.0 million, compared to €30.7 million in the previous month, and new loans for housing purchases decreased to €115.4 million, compared to €199, 5 million in the previous month.

Also, new loans to non-financial companies for amounts up to €1 million decreased to €60.1 million, in compared to €109.0m in the previous month and new loans to non-financial companies for amounts above €1m recorded a decrease to €269.3m, compared to €571.2m in the previous month.

source: In Business News

Source: 24h.com.cy

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