Deposit and lending rates increased further in February, as did overall new loans, according to the Cyprus Monetary Financial Institutions interest rate statistics for deposits and loans of eurozone residents, published by the Central Bank on Friday. These figures are included in the Monetary and Financial Statistics, March 2023 edition.
Specifically, the interest rate for deposits with a term of up to one year from households increased to 0,59%, compared to 0,24% the previous month, while the corresponding interest rate for deposits from non-financial companies showed a slight decrease to 0,69%. compared to 0,70% in the previous month.
In loans, the interest rate on home loans rose to 3,42%, compared to 3,11% the previous month, and the interest rate on consumer loans increased to 5,17%, compared to 4,68% last month. last month.
The interest rate on loans to non-financial companies for amounts up to €1 million showed an increase to 4,85%, compared to 4,82% in January, while the interest rate on loans to non-financial companies for amounts over €1 million recorded a decrease to 4,54%, compared to 5,37% in the previous month.
In addition, in February 2023 total new loans showed an increase and reached €527,5 million, compared to €305,7 million in the previous month. The increase is mainly due to loans to non-financial companies for amounts over €1 million, which increased by €229,9 million.
In particular, new consumer loans increased to €16,3 million, compared to €13,1 million in the previous month, while new loans for home purchase showed a decrease to €85,5 million, compared to €90,9 .XNUMX million in the previous month.
New loans to non-financial companies for amounts up to €1 million decreased to €44,5 million, compared to €51,4 million in the previous month, while new loans to non-financial companies for amounts over € 1m recorded an increase to €374,0m, compared to €144,1m the previous month.
It is noted that the amounts of new loans include new loan contracts as well as contracts which were renegotiated during the month in question.
Source: KYPE
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