articles | 15 February 2018

Banks relax household credit rules for first time in 3 years

Cypriot banks relaxed their mortgage and consumer credit standards in the fourth quarter of 2017, for the first time since the end of 2014, and are expected to do the same in the current quarter, the Central Bank of Cyprus said.

Standards for corporate loans remained unchanged in October to December and are expected to continue to do so in the first quarter of 2018, the central bank said in a statement on its website on Thursday. The last time banks relaxed their standards for corporate credit was also in the fourth quarter of 2014.

Demand for mortgages and consumer credit as well as corporate credit rose in the previous quarter and is expected to increase further in the current quarter, the central bank said.

Source: Cyprus Mail

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