Credit demand to rise in Q2, as banks keep standard unchanged

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By Stelios Orphanides

Cypriot banks kept their lending standards unchanged in the first three months of the year and they are expected to continue to do so also in the second quarter, the Central Bank of Cyprus said.

Banks will maintain their standards in all categories, i.e. corporate loans, mortgages, and consumer credit, after having done so in the first quarter, the central bank said in its quarterly bank lending survey, published on its website on Wednesday.

Demand for corporate loans, mortgages, and consumer credit increased in the first three months of the year and is expected to rise further in April to June, both in Cyprus and the euro area, the central bank said.

Euro area banks relaxed their standards in all credit categories in the first three months of the year and are expected to keep them unchanged this quarter for mortgages and consumer loans, and tighten them for corporate lending, the central bank said.

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About Author

Stelios Orphanides is a journalist at CyprusBusinessMail.com. To contact Stelios Orphanides: [email protected]