Greater Efforts Required to Resolve NPL Problem

  The Cypriot banking sector’s NPL’s (total exposures) amounted to be €27.3 billion in September 2015 (47.8% of the total amount of loans), compared to €27.4 billion in August 2015. Despite efforts made by the State in terms of legislation, aiming for NPL reduction, either via restructuring or other tools that would facilitate arrangements, little progress has been observed on the banks’ balance sheets. However, it appears that the upward trend in NPLs observed over the last years has finally come to an end, although the resulting NPL figure is still alarmingly high.