CYPRUS: At € 2,94 billion the net new loans given in 2021

The net new loans given to Cyprus in 2,94 amounted to € 2021 billion, showing an increase of 22,3% compared to 2020, which was marked by the coronavirus health crisis.

Net credit in 2021 recorded an increase of € 536 million compared to the previous year, with the largest annual increase recorded in mortgages.

In December 2021, a total of € 373 million was granted in new loans, which was the largest amount for the whole of 2021.

Compared to the pre-coronary era, net new loans are reduced by € 264 million or -8,25%.

The lion's share in the new loans granted in 2021 were the mortgage loans with € 1,12 billion or 38,1% of the new loans. Compared to 2020, mortgages increased by € 338 million.

It is recalled that the new mortgages were supported by the government interest rate subsidy plan that was in force until the end of 2021.

Based on the CBC historical data, the lion's share traditionally had corporate loans over € 1 million, which this year amounted to € 1,0 billion, corresponding to 34,2% of the total new loans granted in 2021, recording an increase of € 40 million.

This was followed by corporate loans of up to € 1 million, which amounted to € 539 million, recording an increase of € 174 million compared to 2020, while they correspond to 18,3% of total loans.

Net consumer loans remained unchanged compared to 2020 and amounted to € 149,2 million and corresponded to 5% of total loans, while other loans granted in 2021 fell by € 17,3 million to € 124,2 million. , 4 million, corresponding to XNUMX% of total loans.