WEDNESDAY, 3 MAR 2021

 

CONNECT

Facebook Linked In Twitter
GAP Vassilopoulos
GloriaJeans_266x90px
IMH LTD

Merkel Faces Growing Pressure to Ease Germany’s Covid Curbs

Health Minister: We Must Avoid A Setback

IMH LTD

ECONOMY

Cyprus Banks Tighten Lending Criteria In Third Quarter Of 2020, While Loan Demand Increases

Cyprus Banks Tighten Lending Criteria In Third Quarter Of 2020, While Loan Demand Increases

Cyprus banks tighten lending criteria in the third quarter of 2020, while there was increased demand for loans from businesses and households, according to the bank lending survey for October, compiled by the Central Bank of Cyprus (CBC).

 

According to CBC survey, "on the one hand, banks have adopted stricter criteria in offering loans, mainly due to the uncertainty and potentially increased risk they face amid the pandemic and on the other hand, the demand for business loans has increased, mainly due to of the lack of liquidity they faced ".

 

As CBC points out, the implementation of support measures for businesses in Cyprus in the form of state guarantees, was expected to lead to a relaxation of lending criteria, and therefore to increased demand, as has been observed in some countries where the specific measures were implemented.

 

However, in the third quarter of 2020, according to the banks surveyed, the criteria for lending to businesses in Cyprus were affected by the crisis and became stricter than in the previous quarter, as well as the criteria for lending to households for both mortgages, as well as for consumer and other loans.

 

Moreover, in the third quarter of 2020, the net demand for loans in Cyprus by companies increased, according to the banks ` responses to the survey.

 

Demand for loans from households also increased compared to the previous quarter, both for mortgages, consumer and other loans.

 

According to the banks` expectations for the fourth quarter of 2020, presented in the CBC survey, the criteria for lending in Cyprus to both businesses and households for all types of loans were expected to become stricter.

 

In addition, according to the expectations of the banks participating in the survey in Cyprus for the fourth quarter of 2020, the net demand for loans from both businesses and households for all categories of loans is expected to increase.

 

Source: CNA

MORE ON ECONOMY

Analysis: Central banks will happily ignore inflation-mongers

The world’s biggest central banks will happily live with higher inflation and ...

Action Plan For Resumption Of Flights

Cyprus’ action plan for the gradual resumption of flights and the re-opening of ...

Perdios Presents Main Goals of the 2030 National Strategy for Tourism

Cyprus Deputy Minister of Tourism Savvas Perdios presented the main goals of the 2030 ...

FROM AROUND GOLDNEWS

   

2nd Cyprus Forex Summit: FX Risk Exposure of Private Debt

IMH is organising the 2nd Cyprus Forex Summit as a digital event on Thursday, 8 April 2021. Distinguished speakers from Cyprus and abroad will present the ...
   

CIM Summit 2021: Navigating the Future

The Cyprus Institute of Marketing (CIM) is organising the CIM Summit 2021 ‘Navigating the Future’ for the 13th consecutive year. The Summit will be ...
   

Zoom Sees Revenues Soar 326% Year-Over-Year As Office Life Remains On Hold

A year of working from home may have driven many of us to the brink but it’s been great news for Zoom, the video conferencing business.   On ...
   

GOLD – March Issue Presents: Premium Healthcare In Cyprus

Cyprus has always had a large, thriving healthcare industry, catering not only for local residents but also for a growing number of foreign visitors who view ...
   

Office Market: The Avalanche Approaches For Companies, Workers, And Landlords

Based on responses from more than 4,300 office-based workers and 1,500 Senior Decision Makers on behalf of their employees, surveyed across six countries, ...
   

Merkel Faces Growing Pressure to Ease Germany’s Covid Curbs

Chancellor Angela Merkel faces further pressure to lay out a path to ease Germany’s coronavirus lockdown after Finance Minister Olaf Scholz became the ...
   

The Ugly Divorce Between Britain And Brussels Is Just Getting Started

Britain and the European Union have also fallen out politically and diplomatically, with a speed and bitterness that has surprised even pessimists about the ...
   

ICT Industry Highest Paying Sector In Most Member States For 2018

How much people earn varies considerably between economic activities. Which sectors have especially high earnings and which have low earnings may also ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Gold_HealthCare
Forex_29/01-07/04

IMH LTD