The data also shows that non performing loans from local operations reached €24.1 billion. The Central Bank figures are based on the new definition of non performing loans which was applied on June 30th 2013. In particular, the amount of loans which have been restructured by the 30th of September 2013 reached 14.12% of the total credit facilities, or €53 billion. By September 30, 2013, the amount of non performing loans of commercial banks reached 36.89% (€19,5 billion), from 28.17% which was on the 30th of June, 2013.

Based on the data concerning local operations of commercial banks, loans amounting to €51.22 billion were allocated, of which 35.96% or €18.41 billion are included in the non performing loans and 14.25% have been restructured. As regards the co-operative sector, the amount of restructured loans by September 30th 2013 reached 4.62% of the total loans which stood at €13.48 billion.

Non performing loans reached during the same period 42.22% (€5,6 billion of the total credit facilities, from 41.52% on the 30th of June, 2013). Most credit facilities of banks until the 30th of September 2013 were in the construction sector and reached €7.23 billion of which 61.64% is non performing and 20.34% has been restructured. As regards the co-operatives, most loans allocated by September 30th 2013 were in the public administration sector and defence (compulsory social security) reaching €821.34 million, of which 3.34% is non performing and 0.03% was restructured.

Source: Financial Mirror