Cyprus sees drop in new loans and restructurings in August 2023
Net new loans in Cyprus decreased by €71.2 million in August 2023, compared to July 2023, according to the latest data from the Central Bank of Cyprus (CBC).
According to the report, net new loans recorded a decrease in August 2023, reaching €207 million, compared to €278.2 million the previous month.
In addition, new consumer loans decreased to €18.8 million, compared to €24.1 million the previous month.
New home purchase loans also saw a decline, totalling €77.7 million, down from €84.6 million the previous month.
New loans to non-financial corporations for amounts up to €1 million decreased to €34 million compared to €47 million the previous month.
New loans to non-financial corporations for amounts exceeding €1 million recorded a decrease, totalling €69.8 million, down from €133.5 million the previous month.
Loan restructurings decreased in August 2023, reaching €318.7 million compared to €369.5 million in July 2023.
Loan restructurings for consumer loans decreased to €1.5 million, compared to €2.6 million the previous month.
Loan restructurings for home purchase loans also saw a decline, totalling €77.2 million, down from €97.3 million the previous month.
Moreover, restructurings for loans to non-financial corporations for amounts up to €1 million increased to €34.6 million compared to €23.5 million the previous month.
Finally, loan restructurings for loans to non-financial corporations for amounts exceeding €1 million recorded a decrease, totalling €201.1 million, down from €237.3 million the previous month.