New bank loans, mortgage rates rise

New loans approved by Cypriot banks rose by €217 million in September compared to August, driven upwards by corporate loans of over €1 mln, which rose by 127.6 mln. Furthermore, interest rates

Banks must address structural vulnerabilities

Increased interest revenue from monetary policy normalisation should not overshadow Cypriot banks’ structural vulnerabilities, argued Cyprus Central Bank governor Constantinos Herodotou. Speaking to MPs, Herodotou said Cypriot banks are expected to significantly

Inflation dents home-owning dreams

Hiking inflation is threatening to halt an upward trend in housing loans from Cypriot banks recorded in the past two years, as interest rates are being pushed up. Cyprus bank officials say

New bank loans up 15%

New loans granted by Cypriot banks increased by 15.4% in the first eight months to August compared to 2021, pushed upwards by higher demand for household and business loans. Despite a €182.3

Housing loans reach new peak

Despite strong inflationary pressures crushing household incomes, the value of new mortgages taken out had reached its highest level since December 2014, when the Central Bank began recording data. Net new mortgage

Debt restructuring slowdown

Debt restructuring declined to €545 mln in the first six months, with loan renegotiations slowing following a record year due to the pandemic as non-performing loans declined to their lowest point since

New bank loans up 28.2% to May

New credit granted by Cypriot banks increased by nearly 30% in the first five months of the year compared to 2021, pushed upwards by higher demand for household and business loans. According

New bank loans plunge 50%

New credit granted by Cypriot banks dropped by nearly 50% in April compared with the previous month, pushed downward by a big reduction in housing loans. According to data published by the Central

Toxic bank loans rise to 11.7%

The rate of non-performing loans in the Cyprus banking sector increased to 11.7% of total loans in January from 11.1% at the end of 2021, data released by the Central Bank of Cyprus on

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