Europe

Toxic bank loans rise to 11.7%

According to data released by the Central Bank of Cyprus on Thursday, the proportion of non-performing loans in the banking sector of Cyprus increased from 11.1% at the end of 2021 to 11.7% of total loans in January.

Non-performing loans (non-payment of 90 days or more) defined by the European Banking Authority increased from € 3 billion at the end of December 2021 to € 3.06 billion.

According to CBC, loan coverage is last month..

In addition, the total loan amount in 2021 decreased from € 2.701 billion at the end of December to € 2.556 billion the following month.

The central bank said the significant decline in total loans was primarily due to loan repayments.

According to the CBC, non-performing loans have shown a € 24.3 billion (89%) reduction since December 31, 2014.

post Toxic bank loans rise to 11.7% First appeared Financial mirror..

https://www.financialmirror.com/2022/05/05/toxic-bank-loans-rise-to-11-7/ Toxic bank loans rise to 11.7%

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