Non-performing loans (NPLs) dropped by around €1.4 million on a monthly basis in August last year, the central bank (CBC) said on Tuesday, as the overall ratio of bad debts fell slightly to 29.3%.
Total NPLs on August 31, 2019 dropped to €9.667 million against €9.681 million the previous year and €10.260 million at the end of 2018, the CBC said.
The NPL ratio against total loans fell from 29.6% to 29.3%.
Most bad debts are held by households, 36.7%, or €4.9 billion, at the end of August 2019, versus €5.1 billion at the end of 2018.
They were followed by companies, whose NPLs were around €4.4 billion, or 29.4%, compared with €4.7% at the end of 2018.
Out of the total, some €3.7 billion concerned small and medium businesses, the CBC said.
Source: Cyprus Mail
