Cyprus Mail

Cypriot banks to keep credit standards unchanged in Q1

Cypriot banks maintained their standards unchanged in the fourth quarter of 2015 for both households and corporate lending, and also expect to keep them unchanged in the first three months of the year, the Central Bank of Cyprus said.

Demand for mortgages rose in October to December last year and is also expected to rise in the current quarter, the Central Bank of Cyprus said in a statement on its website on Monday. Demand for consumer loans as well as corporate lending remained unchanged and is further expected to remain so until the end of March.

Banks in the euro area loosened their standards for corporate lending in the last quarter of 2015 and are expected to further loosen them in the first quarter of 2016, the central bank said. Euro area banks relaxed their standards for mortgages in October to December and were expected to tighten them in January to March. In the first quarter of the year, euro area banks which made it more difficult for households to get consumer loans in October to December, are expected to loosen them.

Demand for loans in the euro area rose in all categories in the previous quarter and is further expected to rise until March, the central bank added.

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