Cypriot banks’ lending rates remained high in September

14:19 - 12 November 2024

Financial Services

Cypriot banks’ lending rates for home purchase remained at relatively high levels in September, according to data released by the Central Bank of Cyprus on lending rates in September 2024.

It said the general interest rate for all Monetary and Financial Institutions (MFIs) in Cyprus increased from 4.33% in August to 4.49% in September, despite the downward trend observed in the European Central Bank’s interest rates.

Some banks, such as Bank of Cyprus and Eurobank, increased their interest rates in September, while Astrobank and Hellenic Bank recorded a decrease.

The average interest rate on loans of up to one million euros to companies increased to 5.61% in September, from 5.56% in August.

Furthermore, the average household deposit rate for the euro area, rose to 1.98% in September, up from 1.79% in August.

Hellenic Bank and Eurobank Cyprus becoming one and reshaping the banking map

EBF CEO warns €1 trillion in frozen capital risks undermining EU Goals

Aristidis Vourakis: Deutsche Bank considering return to Cyprus

Makis Keravnos: The Cypriot banking system is back on a healthy trajectory

Cyprus economy and banks resilient, but vigilance still needed, says CBC Governor

EBF head Wim Mijs: Cyprus’ banks are resilient; but must remain vigilant

"There will be no 'Big Bang'," warns top ECB supervisor as she announces plan to cut red tape for EU banks

Bank Audi’s Mouayed Makhlouf: Resilience in banking now means to be technologically able

Bank of Cyprus follows ECB lead and reduces lending rates

Eurobank Limited is on its way: The numbers behind the new bank's vision

Cypriot banks’ lending rates remained high in September

News Feed

Read More