NPLs in Cyprus decrease €722 million at the end of September

? decrease of €722 million or 14.4% was recorded at the end of September 2021 in aggregate Non-Performing Loans (NPLs) compared with the end of June 2021, according to data released Friday by the Central Banks of Cyprus (CBC).

Total loans decreased by €486 million or 1.7% from €28,388 million at end-June 2021 to €27,902 million at the end of September 2021. As a result, a decrease in the ratio of NPLs to total loans was recorded from 17.6% at end-June 2021 to 15.4% at the end of September 2021. The coverage ratio stood at 4.7% at end-September 2021 compared with 46.8% at the end of June 2021. It must be noted that during the period between 31.12.2014-30.09.2021, there has been an overall reduction in NPLs of €23 billion or 84.3%.

According to CBC, the downward trend in NPLs exhibited in the third quarter of 2021 can be attributed, by order of significance, t

Source: Cyprus News Agency