Compared with the previous month NPLs, which amounted to €27.58 billion, NPLs in April 2015 rose by 0.61%, an increase which in absolute numbers amounts to €0.15 billion.

According to CBC figures, from the €27.75 billion, 21.88% a figure amounting to €6.07 billion have been restructured but continue to be classified as NPLS. Under the new NPL definition, restructured loans remain in the NPL stock for a year.

On March 2015 restructured loans amounted to €5.99 billion.

Corporate loans in March totalled €24.54 billion of which 56.756% or €13.92 billion were non-performing. A total of €13.92 billion or 28.27% have been restructured.

On Tuesday, the head of the Co-Op said Cyprus holds the dubious position of topping the worldwide chart of banks lumbered with non-performing loans.

Nicolas Hadjiyiannis said that the Co-operative sector is doing everything possible to address the problem.

Source: Famagusta Gazette