A month earlier, the NPL ratio was 48.5% while in October last year it was 38.5% the central bank said in a statement on its website. The respective amounts in all banks and cooperatives operating in Cyprus were €28.1 billion and €24.6 billion.

In October, banks saw the percentage of unserviced debts extended to companies at 50.7% and that to individuals at 51.4%, the statement said. The respective amounts were €15.8 billion and €12.4 billion.

Three out of four outstanding loans extended to construction companies or €5.7 billion were in October non-performing and making out more than one third of company NPLs, the central bank said. NPLs to retail and whole sale companies as well to real estate companies which together made out less than one third of overall unserviced loans, stood at €2.4 billion and €2.3 billion with a non-performing ratio of 46.6% and 56.4% respectively, the central bank said.

Nearly 45% of loans extended to individuals by banks and cooperatives for the construction or purchase of immovable properties was non-performing in October and stood at almost €6.5 billion or more than half of overall non-performing credit to individuals, the central bank said. The non-performing ratio in the case of consumer loans was 61.3% and with €4.4 billion made out more than one third of the overall non-performing debt of individuals.

Source: Cyprus Mail