Non-performing loans (NPLs) in commercial banks and cooperative credit institutions rose to €26.25 billion in November 2013, according to figures released by the Cyprus Central Bank (CBC)
Compared with September 2013 NPLs recorded an increase of 4.0 per cent or €1.01 billion
NPLs in commercial banks reached 39.11 per cent of total loans which in absolute numbers corresponds to €20.29 billion, whereas NPLs in the cooperative sector reached 44.39 per cent of total loans or €5.96 billion.
The most problematic loans in the banking sector were the credit facilities granted to the construction sector that reached €7.25 billion of which 35.2 per cent are considered as non-performing. Loans to individuals on November 30 amounted to €15.14 billion of which 61.44 per cent fall in the NPL category.
Restructured loans reached 14.25 per cent of total credit facilities.
NPLs in the Cooperative sector reached an even higher ratio climbing to 44.93 per cent of total loans that on November 30 reached €13.42 billion, whereas only 4.63 per cent of total loans have been restructured.
According to the CBC figures the lion`s share in total Coops loans were granted to individuals, with €10.49 billion, of which 53.86 per cent are non-performing, whereas €5.19 billion were granted for the purchase of immovable property.
Credit facilities to companies reached €2.93 billion.
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