The increase in non-performing loans in June mainly concerned small and medium companies unable to service their debt with the share of their overall non-performing loans debt rising to 64.8% or €8.7 billion, or by €127.2 million in a month, the central bank said in a statement. The overall amount of non-performing loans of all non-financial corporations, including small and medium size enterprises, rose by €107.5 million to €13.5 billion or 55.73% of their overall outstanding debt.

The amount of loans extended to households which remained unserviced for more than three months rose to €12.6 billion or 54.97% of overall outstanding loans and facilities in June, from 54.8% the previous month, or by €11.1 million, the central bank said.

The non-performing loan ratio of financial corporations fell in June to 8.3% from 8.63% the month before to €830.4 million or by €48.4 million while that of the government sector rose from 6.53% in May to 6.58% in June even as it dropped in absolute numbers to €72.3 million by €2 million, the central bank said.

Source: Cyprus Mail