ECONOMY

Cyprus NPLs drop €7 million month-on-month

cyprus-npls-drop-e7-million-month-on-month

Nonperforming loans in Cyprus’ banking system stood at €5.134 billion in May from €5.141 billion in April, showing a decrease of approximately €7 million, according to data published by the Bank of Cyprus.

The NPLs remained at 18.1% of total loans.

Total loans at the end of May were €28.419 billion, from €28.445 billion in the previous month, while total loans due over 90 days stood at €3.956 billion or 13.9%, compared to €3.921 billion in April.

Total restructured loans amount to €3.833 billion, €2.311 billion continue to be classified as NPLs. [Financial Mirror]