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New loan provision decelerates in January 2019

March 5, 2019 at 4:44pm

New loans got off on a poor start in 2019 with total loans provided in January 2019 marking a reduction of €106 million compared with December 2018, data released by the Central Bank of Cyprus (CBC) show.

According to the CBC, total new loans (comprising new loans and renegotiated facilities) amounted to €300,3 million in January 2019 compared with €407,6 the month before.

All reported loan categories showed reduction in January compared with December 2018.

New loans to non-financial corporations over €1 million marked the highest deceleration declining to €164 ml compared with €217 ml the previous month. Net new loans amounted to €159 ml compared with €196 ml in December 2018. Renegotiated facilities reached €4,5 ml compared with €21,3 ml, the CBC said.

Total new housing loans in January 2019 amounted to €73,6 ml compared with €101,6 the previous month. New loans were €68,4 ml from €96,3 the month before, while renegotiated facilities declined marginally to €5,1 ml in January 2019 compared with €5,3 ml in December 2018.

According to the CBC, total new loans to non-financial corporations up to €1 million amounted to €33,8 ml compared with €56,1 ml in December 2018 with pure new loans provided reaching €33,6 ml compared with €53,5 ml the month before. Renegotiated facilities reached €2,3 compared with €2,6 ml in December.

Total new consumer loans declined to €11,1 ml in January 2019 compared with €12,8 ml the previous month. Pure new loans reached €10,9 ml, one million less than the loans provided in December 2018. Renegotiated loans amounted to €0,2 ml compared with €0,9 the previous month.

(Cyprus News Agency)