Cyprus sees increase in new lending despite rising interest rates

The Central Bank of Cyprus (CBC) announced on Thursday that new loans taken out by non-financial corporations over €1 million increased by 10 per cent in May of this year, despite a 0.52 per cent rise in lending rates.

The CBC published the interest rate statistics for Cyprus’ monetary financial institutions concerning deposits and loans, along with new loan amounts for May 2024.

These figures are included in the June 2024 edition of Monetary and Financial Statistics.