Print

Statistics on Interest Rates applied by Monetary Financial Institutions

Wednesday, 3 April 2019

The Central Bank of Cyprus has today released the statistics on interest rates applied by monetary financial institutions in Cyprus on deposits and loans in euro as well as data regarding volumes (amounts) of new euro denominated loans for the reference month of February 2019. These statistics are included in the March 2019 edition of Monetary and Financial Statistics.

The main developments in interest rates on new deposit and loan contracts, including contracts which were renegotiated, are summarized as follows:

Deposit Rates

  • The interest rate on deposits from households with an agreed maturity of up to one year registered an increase to 0,38%, compared with 0,36% in the previous month.
  • The corresponding interest rate on deposits from non-financial corporations rose to 0,36%, compared with 0,34% in the previous month.

 
Lending Rates

  • The interest rate on consumer credit recorded an increase to 3,37%, compared with 2,83% in the previous month.
  • The interest rate on loans for house purchase increased to 2,22%, compared with 2,18% in the previous month.
  • The interest rate on loans to non-financial corporations for amounts up to €1 million fell to 3,37%, compared with 3,58% in the previous month. The interest rate on loans to non-financial corporations for amounts over €1 million rose to 3,32%, compared with 2,95% in the previous month.

Amounts of new loans

Total new loans recorded a decrease to €244,9 million in February 2019, compared with €300,3 million in the previous month. The main categories of new loans are analyzed below:

  • New loans for consumption decreased to €10,9 million, compared with €11,1 million in the previous month.
  • New loans for house purchase registered an increase to €74,4 million, compared with €73,6 million in the previous month.
  • New loans to non-financial corporations for amounts up to €1 million rose to €41,8 million, compared with €33,8 million in the previous month.
  • New loans to non-financial corporations for amounts over €1 million fell to €104,9 million, compared with €163,7 million in the previous month.

Click here.