Significant Monthly Decline In Cyprus Net New Loans Recorded In January 2026

Overview Of Net New Loans Decline

Data from the Central Bank of Cyprus show that net new loans declined in January 2026 compared with December. Net new lending fell by €377.7 million, reaching €247.3 million compared with €625.0 million in the previous month. Total new loans also declined, dropping from €986.9 million in December to €495.9 million in January.

Shifting Trends In Loan Categories

Consumer lending recorded a small increase during the month. Net new consumer loans rose from €17.2 million to €18.9 million. Mortgage lending declined to €95.7 million from €135.4 million in December. Business lending also decreased. Loans below €1 million fell from €60.3 million to €40.1 million, while loans above €1 million declined from €406.4 million to €88.1 million.

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Interest Rate Adjustments Across Loan Sectors

Interest rates for several loan categories recorded small changes. Consumer loan rates declined slightly from 7.22% to 7.20%. Mortgage loan rates also decreased, falling from 3.78% to 3.70%. Rates on business loans remained at 4.32% for loans up to €1 million. For loans above €1 million, the rate declined from 4.42% to 4.34%.

Deposit Rates And European Context

Deposit rates for household accounts with a maturity of up to one year remained at 1.20%. Business deposit rates increased from 1.27% to 1.34%. The Central Bank of Cyprus said lending rates in Cyprus are now close to the eurozone median, with household loan margins near zero and corporate margins around 0.4%. Deposit rates in Cyprus remain among the lowest in the eurozone, which the central bank links to high liquidity levels in the banking sector.

Changing Patterns In Mortgage Loan Terms

Data from the central bank also show changes in mortgage loan structures. The share of new housing loans with variable interest rates declined to 11.6%. At the beginning of 2022, nearly all new housing loans were issued with variable rates. Borrowers are increasingly choosing loans with fixed interest rates during the initial years of the contract.

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Cyprus And Greece Outline Joint Tourism Plans For Summer 2026

by THEFUTURE.TEAM

May 1, 2026

Strategic Partnership Enhances Tourism Prospects

The Cyprus Tourism Authority (EOT Cyprus) presented proposals for summer 2026 focused on strengthening tourism cooperation between Cyprus and Greece, with joint efforts aimed at attracting visitors from long-haul markets.

Greece: The Top Destination For Cypriot Travelers

At an event on April 28, Athena Spakouri, Director of EOT Cyprus, said Greece is expected to remain the main travel destination for Cypriot residents, with plans extending beyond established locations to include lesser-known regions. This approach reflects a broader effort to diversify travel options while maintaining strong demand between the two countries.

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Complementary Destinations, Unified Vision

Building on this, Spakouri noted that Cyprus and Greece offer complementary tourism experiences rather than competing directly. Joint programmes are therefore being positioned to attract visitors from markets such as the United States and China, while tourism activity continues to be assessed in the context of broader geopolitical developments.

Robust Air And Sea Connectivity

Supporting this cooperation, Konstantinos Kollias said around 600,000 Cypriots travelled to Greece in 2025. Frequent flights, short travel times, and ferry connections between Limassol and Piraeus continue to facilitate movement between the two countries and sustain travel flows.

Diverse Tourism Offerings for a New Era

Konstantinos Kollias highlighted that Greece’s tourism portfolio spans from traditional seaside holidays to sectors such as cultural, religious, gastronomic, agritourism, ecotourism, spa, conference, and medical tourism.

This range reflects the expansion of tourism offerings across different segments and travel preferences. In parallel, Joseph Iosif referred to Greece as a “second homeland” for Cypriot travellers, pointing to longstanding cultural and travel links between the two countries.

Innovative Programs And Strengthened Connections

Building on this approach, the EOT strategy includes initiatives focused on gastronomic routes, cultural trails, thematic and religious tourism, as well as curated city breaks in destinations such as Athens and Thessaloniki. These programmes were presented at the event alongside references to historical, cultural, and religious connections between Cyprus and Greece, including remarks from Bishop Gregorios of Mesaoria.

Boosting Air Connectivity And Island Accessibility

At the same time, airlines including Aegean Airlines, Sky Express, and Cyprus Airways outlined plans to expand connections between Cyprus and Greece, with a focus on increasing access to island destinations. The event also brought together stakeholders from the Deputy Ministry of Tourism, Hermes Airports, tour operators, and ACTAA, reflecting coordination across different parts of the tourism sector.

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