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Cyprus Reports €20.9 Million Increase in New Loans for April

Cyprus saw a net increase of €20.9 million in new loans in April 2024, according to a recent report from the Central Bank of Cyprus (CBC). The report detailed that net new loans from Cypriot banks reached €304.3 million in April, up from €283.4 million in the previous month, marking a 7.4 percent increase.


Cyprus Reports €20.9 Million Increase in New Loans for April

However, the total new loans, including restructured loans, saw a decrease, falling to €422.6 million in April from €496.4 million the month before. New consumer loans rose to €22.4 million, of which €21 million were net new loans, compared to €22.2 million in the previous month, where €20.5 million were net new loans.

 

The report also highlighted an increase in new loans for house purchases, which rose to €123.8 million, with €90.1 million being net new loans. This was up from €119.6 million in the previous month, of which €86.9 million were net new loans.


Cyprus Company Formation

 

Conversely, new loans to non-financial corporations up to €1 million decreased to €67.5 million, with €52.4 million as net new loans, compared to €69.3 million the previous month, where €52.2 million were net new loans. Additionally, new loans to non-financial corporations over €1 million fell significantly to €203.5 million, of which €140.8 million were net new loans, down from €270.8 million in the previous month, with €123.8 million being net new loans.

By fLEXI tEAM

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