Net new loans in Cyprus increased by €20.9 million in April 2024, according to a report released this week by the Central Bank of Cyprus (CBC).

Specifically, according to the report, net new loans from Cypriot banks reached €304.3 million, compared to €283.4 million in the previous month, marking a 7.4 per cent increase.

However, total new loans, which include restructured loans, decreased to €422.6 million in April from €496.4 million the previous month.

New consumer loans rose to €22.4 million, of which €21 million were net new loans, compared to €22.2 million in the previous month, of which €20.5 million were net new loans.

New loans for house purchases increased to €123.8 million, of which €90.1 million were net new loans, compared to €119.6 million the previous month, of which €86.9 million were net new loans.

New loans to non-financial corporations up to €1 million decreased to €67.5 million, of which €52.4 million were net new loans, compared to €69.3 million the previous month, of which €52.2 million were net new loans.

New loans to non-financial corporations over €1 million fell to €203.5 million, of which €140.8 million were net new loans, compared to €270.8 million the previous month, of which €123.8 million were net new loans.