Loading...
topic
HOME  /  NEWS  /  CYPRUS: LENDING RATES DOWN

News

Search News
Cyprus: Lending rates down

Cyprus: Lending rates down

Following the Central Bank of Cyprus decision to reduce the base rate by 1% in order to encourage banks to spur money flow in the market and to consumers, lending rates retreated in March.

According to the Central Bank, the average interest rate on deposits from households with an agreed maturity of up to 1 year continued its downward trend falling to 1.73% from 2.30% in February. The deposit rate for non-financial entities dropped for the 2nd consecutive month, to 1.57% whilst interest rate on consumer loans dropped for the 3rd consecutive month, to 4.69% in March from 5.19% the previous month. Interest rate on loans to non-financial entities for amounts exceeding €1 million dropped to 4.28% from 5.0% in the previous month.

Related News

We are delighted to announce that, for another consecutive year, A.G. Erotocritou LLC has retained its top tier rankings for selected practice areas from Legal500 – one of the world's largest legal ...
We are delighted to announce that Andreas Erotocritou has been selected and appointed as the Levant Representative of the newly relaunched Asset Recovery Committee of the International Bar Association ...
We are looking to recruit an enthusiastic, motivated and responsible trainee.