In particular, the Central Bank of Cyprus released the statistics on interest rates applied by monetary financial institutions in Cyprus on deposits and loans of euro area residents in euros, as well as data regarding volumes (amounts) of new euro denominated loans to euro area residents for the reference month of September 2021.

According to the data, total new loans recorded an increase to €386.9 million in September 2021, compared with €278.4 million in the previous month.

New loans for consumption increased to €15.6 million, compared with €13.2 million in the previous month.

New loans for house purchase registered a rise to €106.2 million, compared with €89.5 million in the previous month.

New loans to non-financial corporations for amounts up to €1 million recorded a decrease to €43.2 million, compared with €44.1 million in the previous month.

New loans to non-financial corporations for amounts over €1 million registered an increase to €209.4 million, compared with €118.8 million in the previous month.

Deposit Rates

The interest rate on deposits from households with an agreed maturity of up to one year fell to 0.06%, compared with 0.07% in the previous month.

The corresponding interest rate on deposits from non-financial corporations recorded an increase to 0.11%, compared with 0.05% in the previous month.

Lending Rates

The interest rate on consumer credit registered a rise to 2.95%, compared with 2.87% in the previous month.

The interest rate on loans for house purchase increased to 2.20%, compared with 2.17% in the previous month.

The interest rate on loans to non-financial corporations for amounts up to €1 million recorded a decline to 3.27%, compared with 3.33% in the previous month. The interest rate on loans to non-financial corporations for amounts over €1 million increased to 3.05%, compared with 3.04% in the previous month.

Source: Knews