Slight increase in new loans in Cyprus in 2019

New loans to corporations and households amounted to €3.19 billion in 2019 marking a slight annual increase attributed to large corporate credit of over €1 million.

According to data released on Tuesday, the Central Bank of Cyprus (CBC), with the exclusion of renegotiated loans, said new loans in 2019 amounted to €3,194 million, up 1.61 per cent or €51 million compared to the year before.

Total new loans, including renegotiated loans, amounted to €3.77 billion compared to €3,48 billion in 2018.

Following the financial crisis in 2013, new loans rose to $3.23 billion in 2017, the highest figures since December 2014, when the CBC began collecting data on pure new loans.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.