Central Bank of Cyprus publishes February 2025 MFI interest rate data as new lending falls to EUR 431.8 million

The Central Bank of Cyprus published February 2025 statistics on monetary financial institutions’ weighted average interest rates on new euro-denominated deposit and loan contracts with euro area residents, alongside data on new lending volumes, in its March 2025 Monetary and Financial Statistics. Households’ deposit rates for maturities of up to one year rose to 1.51% (from 1.34%), while the corresponding rate for non-financial corporations fell to 1.54% (from 1.80%). On the lending side, the consumer loan rate increased to 7.11% (from 6.25%) and the home purchase loan rate rose to 4.56% (from 4.47%), with the Central Bank noting the weighted average can shift with changes in the composition of housing loan types. Rates on loans to non-financial corporations decreased to 4.66% for amounts up to EUR 1 million (from 5.08%) and to 4.48% for amounts above EUR 1 million (from 4.90%). Total new loans declined to EUR 431.8 million (from EUR 544.4 million), reflecting lower new lending to non-financial corporations above EUR 1 million at EUR 188.1 million (net EUR 92.0 million) versus EUR 317.4 million (net EUR 167.7 million), alongside lower new consumer loans at EUR 21.2 million (net EUR 19.3 million) versus EUR 26.5 million (net EUR 25.2 million), partially offset by higher new home purchase loans at EUR 152.1 million (net EUR 92.8 million) versus EUR 132.6 million (net EUR 87.6 million) and a rise in new lending to non-financial corporations up to EUR 1 million at EUR 55.8 million (net EUR 42.0 million) versus EUR 53.2 million (net EUR 38.2 million).