Non-Performing Loans (NPLs) within Cyprus’ banking sector have been evaluated at €27 billion during the month of August, according to figures released by the Central Bank of Cyprus.
Indeed, the statistics published on Tuesday indicate that though NPLs remain among the most significant challenges the local economy is facing, their value recorded a decrease during the month. NPLs were noted at €27.379 billion, down from €27.390 billion in July.
Despite this decrease, bad loans still represent 47.77% of total loans.
Moreover, according to the CBC, restructured loans amounted to €13.98 billion or 51.1% in August, of which €10.43 billion are still considered to be NPLs.
Non-performing business loans reached 57.22% or €13.85 billion in August, from a total of €24.22 billion.
Further, household NPLs were at 55.82%, or €12.73 billion, in the eighth month of the year from a total of €22.81 billion.
The Central Bank figures detailed that the island’s banks have recorded accumulated impairment loss amounting to €8.85 billion - or approximately €32.33 billion - of the total NPLs.
Indeed, the statistics published on Tuesday indicate that though NPLs remain among the most significant challenges the local economy is facing, their value recorded a decrease during the month. NPLs were noted at €27.379 billion, down from €27.390 billion in July.
Despite this decrease, bad loans still represent 47.77% of total loans.
Moreover, according to the CBC, restructured loans amounted to €13.98 billion or 51.1% in August, of which €10.43 billion are still considered to be NPLs.
Non-performing business loans reached 57.22% or €13.85 billion in August, from a total of €24.22 billion.
Further, household NPLs were at 55.82%, or €12.73 billion, in the eighth month of the year from a total of €22.81 billion.
The Central Bank figures detailed that the island’s banks have recorded accumulated impairment loss amounting to €8.85 billion - or approximately €32.33 billion - of the total NPLs.