By Stelios Orphanides
While demand of both households and corporations for lending rose in the first three months of the year and is expected to continue to do so in the second quarter, banks are likely to keep their lending standards unchanged, the central bank said.
The increase in demand is expected to affect in April to June all loan categories, i.e. corporate loan, mortgages and consumer loans, after it already did so in January to March, the Central Bank of Cyprus said in a statement on its website.
Banks, plagued with a €22bn mountain of non-performing loans, are expected to continue applying the same unchanged standards in the second quarter in all above categories of loans, just as they did in the first quarter, the bank supervisor said.
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