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New lending reached €1.76 billion in the first half of 2019, up 11.5%

August 1, 2019 at 4:41pm
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New loans granted in Cyprus in the first half of 2019 amounted to €1.76 billion, up 11.5% over the corresponding period in 2018.

According to CBC data, new lending in the first half was the highest of the last four years and corresponded to 56% of total new lending in 2018.

New corporate loans over €1 million reached €890 million marking in increase of €27% year on year and constituted the largest share of total new lending. Loans for house purchase amounted to €454 million marginally up compared with €444 million in the first half of 2018.

Corporate loans below €1 million declined to €232 million from €257 million the respective period of last year.

New lending in the second quarter of 2019 amounted to €908 million marking an increase of 7.5% year on year and 7% compared with the first quarter of 2019.

(Cyprus News Agency)