Interest rate for corporate deposits declined to a new historic low in November 2018

Corporate deposits rate in Cyprus declined to 0.46% in November from 0.75% the month before, reaching a new historic low, according to data released today by the Central Bank of Cyprus (CBC).

Households deposit interest rate remained unchanged to 0.54%, the CBC said.

The rates for consumer loans marked a marginal increase in November reaching 3.49% compared with the historic low of 3.48% in October 2018.

According to the CBC, the rates for housing loans increased to 2.29% in November 2018 from 2.26% the month before.

Corporate loans rates for amounts up to Euros 1 million increased to 3.53% in November compared with 3.49% the previous month.

The rates for corporate loans above Euros 1 million declined to 3.21% compared with 3.26% in October 2018.

In November 2018 new loans declined to Euros 246.4 million compared with Euros 292.1 million in October 2018.

New consumer lending remained unchanged to 13.3 million in November, while new housing loans increased to Euros 82.8 million compared with Euros 69.2 million in the previous month.

New corporate loans for amounts up to Euros 1 million declined to Euros 41.8 million compared with Euros 43.5 million in the previous month.

According to the CBC, new corporate loans for amounts over Euros 1 million declined to Euros 91 million compared with Euros 144.8 million in October 2018.

Source: Cyprus News Agency