Cyprus Mail

NPLs fall to just under 30 per cent of all loans

Non-performing loans (NPLs) dropped by around €1.4 million on a monthly basis in August last year, the central bank (CBC) said on Tuesday, as the overall ratio of bad debts fell slightly to 29.3 per cent.

Total NPLs on August 31, 2019 dropped to €9.667m against €9.681m the previous year and €10.260m at the end of 2018, the CBC said.

The NPL ratio against total loans fell from 29.6 per cent to 29.3 per cent.

Most bad debts are held by households, 36.7 per cent, or €4.9 billion, at the end of August 2019, versus €5.1bn at the end of 2018.

They were followed by companies, whose NPLs were around €4.4bn, or 29.4 per cent, compared with €4.7 per cent at the end of 2018.

Out of the total, some €3.7bn concerned small and medium businesses, the CBC said.

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