Bank of Cyprus Cuts Lending Rate Following ECB Policy Shift
The Bank of Cyprus announced today that it will reduce its base lending rate for loans linked to the European Central Bank’s (ECB) base rate, following the ECB’s latest monetary easing measures.
Starting from June 11, 2025, the interest rate will drop from 2.40% to 2.15%.
“This 0.25 percentage point reduction will once again have a significantly positive impact on our customers, particularly by lowering their monthly loan payments,” the bank said in an official statement.
The change will benefit around 12,000 borrowers with loans tied to the ECB base rate, who will now see a decrease in their monthly installments.
The bank also noted that since the ECB began cutting rates in June 2024, the total reduction has amounted to 2.35 percentage points, bringing the base rate down from 4.50% to 2.15%.
In addition, the Bank of Cyprus reported that interest rates are gradually decreasing for another 15,800 borrowers whose loans are linked to the Euribor rate. For context, Euribor peaked at 4.14% in October 2023, but has since fallen to 2.05%.
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