articles | 04 September 2014

Cyprus lending rates record decrease

While still among the highest in the eurozone, Cyprus' lending rates have been falling lately, European Commissioner for Economic and Monetary Affairs and the Euro Jyrki Katainen said recently.

Jyrki Katainen was responding in writing to a relative question by Cypriot MEP Takis Hadjigeorgiou. 



Katainen said, “The Commission is aware of the hardship that the crisis has brought. It is reflected in the high rates of non-performing loans, which are also putting a burden on banks’ capital buffers”. 



“The commitments taken from the Cypriot authorities in the latest Memorandum of Understanding, related to improving the insolvency framework, the foreclosure laws and the law on the Financial Ombudsman, attempt to strike the right balance”, he concluded.

Source: Financial Mirror

Cooperation Partners
  • Logo for Association of Cyprus Banks
  • Logo for Ministry of Energy, Commerce, Industry and Tourism
  • Logo for Invest Cyprus
  • Logo for Love Cyprus Deputy Ministry of Tourism
  • Logo for Cyprus International Businesses Association
  • Logo for Cyprus Chamber of Commerce and Industry
  • Logo for Cyprus Shipping Chamber
  • Logo for CYFA Cyprus
  • Logo for Cyprus Investment Funds Association