Cyprus loan growth in Dec ’08 at 33.4%

Total loan growth in Cyprus by December 2008 reached 33.4%, down from November’s 38.8% growth with the total amount of all loans at EUR 54.71 bln, according to the December Monetary Survey of the Central Bank of Cyprus.
Consumer credit increased 38% year-on-year to EUR 4.33 bln, housing loans were up 29% at EUR 10.42 bln while corporate lending increased by 42% to EUR 27.46 bln. Total loans to domestic residents reached EUR 43.46 bln up by 27.1%.
A year ago in December 2007, total loans amounted to EUR 41 bln.