Pure new lending granted by the banking system amounted to €285 million in November 2021, marking an increase of 45.6% compared with the previous month.
According to data published by the Central Bank of Cyprus (CBC) renegotiated loans declined significantly to €67 million compared with €118.3 million in the previous month, with the monthly rise mainly driven by new credit for corporate loans over €1 million.
Corporate loans over €1 million had the lion’s share of total pure credit with €125.5 million, followed by loans for house purchase which amounted to €100 million.
New corporate loans up to €1 million amounted to €42 million in November while new consumer credit reached €12.3 million. A further €5 million were granted in other new lending, the CBC said.
Source: Cyprus News Agency