Cyprus net new loans jump to €625m in December, CBC says

Net new lending in Cyprus accelerated sharply in December, as borrowing activity strengthened at the end of the year while interest-rate movements diverged across loan categories, Central Bank of Cyprus (CBC) showed.

Net new loans rose by €368.7 million month-on-month to €625m, out of total new lending of €986.9m, compared with €256.3m out of €565.2m in November.

At the same time, deposit rates moved higher for both households and businesses.

Consumer-loan rates also increased, whereas housing-loan rates eased.