Cyprus Mail
Business

Banks have to wait for growth to pick up before NPLs begin to drop

By Stelios Orphanides

Banks would have to wait for some time to pass before their non-performing loan ratio fell to more acceptable levels, the Central Bank of Cyprus spokeswoman said today.

“International experience suggests that the course of non-performing loans peaks a year or two after a financial crisis and it then takes some time until a substantial decline in the ratio begins,” central bank spokeswoman Aliki Stylianou said in a written statement.

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