Cyprus Mail
Business Cyprus

NPLs on the rise in January

By George Psyllides

NON-performing loans (NPLs) in the island’s banking sector, including co-ops, rose to €27.5bn in January, compared with €26.9bn the previous month, Central Bank data showed.

NPLs in commercial banks reached 41.7 per cent, or €21.2bn, compared with €20.8bn in December 2013.

The respective figure for co-ops was 47.5 per cent, or €6.4bn, compared with €6.04bn at the end of the year.

Loans to businesses totalled €31.55bn in January with almost 45 per cent, or €14.2bn falling in the NPL category. Business NPLs were €14bn in December.

Household loans amounted to €14.2bn with 41.8 per cent, or €5.9bn, classed as non performing, compared with €5.7bn in December.

Around €7bn represent loans to developers, with 66.2 per cent, or €4.7bn of those non performing.

Loans in the co-operative sector amounted to €13.5bn, the biggest share granted to private individuals and households – €10.4 per cent.

Around 46 per cent were NPLs – €4.8bn compared with €4.7bn in December.

Co-op loans to companies amounted to €2.92bn in January, with almost 40.5 per cent being non performing – €1.18bn, compared with €1.13bn in December.

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