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Cyprus Banking Sector Sees Robust Growth In Net New Loans In March 2026

by THEFUTURE.TEAM

May 11, 2026

Overview Of Loan Growth

The Central Bank of Cyprus said net new loans in Cyprus increased to €495.3 million in March 2026 from €328.7 million in February. Total new loans issued during the month reached €730.4 million, compared with €435.1 million in February, reflecting stronger lending activity across households and non-financial companies.

Deposit Trends And Interest Rate Movements

Interest rates on household time deposits with maturities of up to one year declined slightly to 1.18% from 1.19% recorded a month earlier. Rates offered to non-financial companies increased to 1.39% from 1.19%, highlighting changing liquidity conditions and deposit competition within the banking sector.

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Evolving Loan Interest Rates

Consumer loan interest rates declined to 6.79% from 7.12%, while rates for home purchase loans increased to 3.86% from 3.45%. According to the Central Bank, monthly fluctuations in mortgage rates are influenced by the varying composition of housing loans, including first-home purchases and financing for additional properties.

Corporate Lending And Market Comparisons

Among loans issued to non-financial companies, interest rates on loans below €1 million increased from 4.22% to 4.40%. Lending rates for corporate loans exceeding €1 million declined slightly from 4.15% to 4.10%. Compared with broader eurozone trends, Cyprus loan rates remain close to the regional median for household lending, while borrowing costs for non-financial companies continue to carry a modest premium.

Liquidity And Risk Management

High liquidity levels within the Cypriot banking system continue to influence deposit pricing and lending conditions. The Liquidity Coverage Ratio in Cyprus reached 315% in March 2026, significantly above the eurozone median of 186% and the average level of 163% recorded in late 2025. Transmission of interest rate changes to deposit products also remains weaker compared with many other eurozone markets.

Shifting Borrower Behavior

Variable-rate home purchase loans accounted for 12.2% of new household mortgage lending in March 2026, down sharply from almost 100% in early 2022. A similar decline was recorded across new loans issued to households and non-financial companies, where the share of variable-rate lending fell to 61.5%. The shift reflects changing borrower preferences and a broader effort to reduce exposure to interest rate volatility.

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Cyprus Promotes Ship Registry In Asia As Fleet Grows To 25-Year High

by THEFUTURE.TEAM

October 19, 2026

Cyprus is stepping up efforts to attract international shipowners, with Shipping Deputy Minister Marina Hadjimanolis holding high-level meetings in China and Japan as the country’s ship register reaches its strongest level in 25 years.

Running from October 14 to 29, the Asian mission focuses on expanding commercial ties, promoting the advantages of the Cyprus flag and strengthening cooperation with shipowners, shipbuilders and maritime authorities.

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China Meetings Target Shipowners And Industry Leaders

In Shanghai, Hadjimanolis met Wang Qian, vice-director of the Shanghai Pudong New Area Commission of Commerce and Shipping Service Office, ahead of the North Bund International Shipping Forum on October 20–21. Organisers expect around 4,000 participants from more than 50 countries and regions, with discussions covering international shipping, maritime safety, financing, insurance, digitalisation and the transition to cleaner fuels.

The minister also met representatives of Dalian Trawind Shipping and Fortuna Shipbrokers Inc. to present the Cyprus registry’s advantages and explore registration opportunities for vessel owners. On October 20, she is scheduled to speak at the 10th Annual Capital Link International Shipping Forum in Pudong, joining a ministerial roundtable on international maritime leadership.

A visit to Zhoushan is also planned for the naming ceremony of Kypros Island, a new vessel for the Cyprus register owned by Safe Bulkers. Launched in June at the Tsuneishi shipyard on Xiushan Island, the 81,200-deadweight-tonne methanol dual-fuel bulk carrier is scheduled for delivery at the end of October. According to the Zhejiang Maritime Safety Administration, sea trials were due to take place between October 11 and 16.

Japan Engagements Strengthen Maritime Ties

Before travelling to China, Hadjimanolis met Japan’s Parliamentary Vice-Minister for Land, Infrastructure, Transport and Tourism, Kenta Aoshima, in Tokyo on October 16. Her programme also included meetings with senior representatives of Shoei Kisen Kaisha, Nihon Shipyard, NYK Line, ITOCHU Corporation and SSY Projects, focusing on cooperation with Japanese shipowners, shipbuilders and shipping operators.

At the 5th Annual Capital Link Japan Maritime Forum, held at the Tokyo American Club, Hadjimanolis discussed maritime leadership, competitiveness, policy and international cooperation with Capital Link founder and president Nicolas Bornozis. Other sessions examined Japan’s shipbuilding strategy, new-vessel financing and the development of ammonia-powered ships.

The Tokyo programme followed a Cyprus Ship Registry reception on October 15 for representatives of Japan’s maritime and business communities. Hadjimanolis outlined the country’s shipping services and regulatory framework, while Polys Hajioannou, chief executive of Safe Bulkers and president of the Cyprus Union of Shipowners, delivered the opening remarks.

Registry Reaches Highest Level In 25 Years

At the reception, Hadjimanolis said the Cyprus Ship Registry had grown by 27% since September 2023, reaching its highest level in a quarter of a century. She attributed the expansion to efforts to improve competitiveness, simplify administrative procedures and provide more responsive services to international shipowners.

Cyprus’s inclusion on the White Lists of the Paris and Tokyo Memoranda of Understanding was another point highlighted by the minister. These lists reflect the safety and inspection performance of ships flying a national flag.

Existing commercial links with Japan include Safe Bulkers’ announcement in May of four Japanese-built dry bulk vessels scheduled for delivery in 2029.

South Korea Next On The Maritime Agenda

Hadjimanolis’ mission will continue in South Korea, where she is expected to attend the 2026 World Maritime Day Parallel Event and Korea Maritime Week alongside International Maritime Organization Secretary-General Arsenio Dominguez and government representatives from several countries.

Her programme will also include discussions on implementing international maritime conventions and bilateral talks aimed at strengthening Cyprus’s shipping ties with South Korea.

The Asian outreach comes as maritime centres compete for shipowners amid geopolitical uncertainty, fleet renewal and pressure to reduce shipping emissions. For Cyprus, the strategy combines promotion of its registry with closer relationships across Asia’s shipbuilding and shipping sectors.