The previous month, the share of non-performing loans was below 49% which translated in to less than €28.2 billion, the central bank said in statement on its website today.

Restructured non-performing loans which presented arrears over 90 days fell to 4.7% at the at the end of November compared to less than 4.9% a month before, while respective figures for restructured non-performing loans with less than 90 days in arrears rose to 6.4% from 6.1%, the statement said.

The share of restructured loans classified as performing fell in November to 8.3% compared to 8.8% the previous month, the central bank said.

A non-performing loan classified as non-performing, must be serviced for at least six months before it is classified as performing, according to the central bank definition.

In November, almost 51.9% of the overall €30.3 billion in lending extended to companies and less than 51.7% of the overall €24.2 billion in credit facilities extended to individuals were non-performing, the central bank said.

Source: Cyprus Mail