The Central Bank of Cyprus published March 2026 statistics on average interest rates charged by Cyprus monetary financial institutions on euro-denominated deposits and loans to euro area residents, alongside new lending volumes. Net new loans rose to EUR 495.3 million from EUR 328.7 million in the previous month, with increases across all main loan categories and the largest rise in lending to non-financial corporations above EUR 1 million, which reached EUR 266.9 million from EUR 137.3 million. For new deposit and loan contracts, including renegotiated business, the household rate on time deposits of up to one year edged down to 1.18% from 1.19%, while the comparable rate for non-financial corporations increased to 1.39% from 1.19%. For loans with a floating rate and an initial rate fixation period of up to one year, the consumer credit rate fell to 6.79% from 7.12%, the house purchase rate rose to 3.86% from 3.45%, the rate on corporate loans up to EUR 1 million increased to 4.40% from 4.22%, and the rate on loans above EUR 1 million eased to 4.10% from 4.15%. The bank noted that monthly changes in the mix of mortgage lending can affect the weighted average housing loan rate. Net new consumer loans rose to EUR 24.6 million from EUR 20.1 million, housing loans to EUR 142.8 million from EUR 115.1 million, and loans to non-financial corporations up to EUR 1 million to EUR 54.7 million from EUR 47.5 million. The accompanying euro area comparison indicates that Cyprus loan rates on both outstanding balances and new business are broadly close to the euro area median, while deposit rates remain the lowest in the euro area. Pass-through on new deposit rates is described as weak relative to almost all other euro area countries, and the share of new house purchase loans at a variable rate has fallen to 12.2% from almost 100% at the start of 2022. Across new loans to households and non-financial corporations overall, the variable-rate share declined to 61.5%, below the euro area median.
Central Bank of Cyprus 2026-05-07
Central Bank of Cyprus publishes March rate data as net new loans climb to EUR 495.3 million
The Central Bank of Cyprus published March 2026 statistics showing net new loans rose to EUR 495.3 million from EUR 328.7 million, with increases across all main loan categories and the largest rise in lending to non-financial corporations above EUR 1 million. Deposit rates for households and non-financial corporations remained low, with the bank noting weak pass-through on new deposit rates relative to most euro area countries. The share of variable-rate lending continued to decline, with variable-rate house purchase loans falling to 12.2% and the overall variable-rate share for new household and corporate loans dropping to 61.5%, below the euro area median.