Non-performing loans equal 45.5% of total loans in June 2014

Non-performing loans (NPLs) in Cyprus' banking system recorded an increase by €317 million at the end of June 2014 compared with the previous month.

This is despitea reduction in the total amount of loans, according to data released by the Central Bank of Cyprus (CBS).

On 30 June NPL’s amounted to 46.5% or €27,81 billion from a total loan amount of €59,80 billion, compared with €45 billion.

Overall, at end-June, commercial lenders and the cooperatives combined had €28.7 billion in NPLs on their books, of which €4 billion (or 14%) were tied to owner-occupied housing.

Commercial banks have lent out €5.7 billion for owner-occupied housing, of which 36.75% are non-performing. Cooperatives posted €4.5 billion in owner-occupied home loans, of which €1.99 billion (or 44.25%) were classed as non-performing.

Source: CNA

Cyprus Profile

articles | 26 August 2014