NON-PERFORMING loans (NPLs) in the Cyprus banking system remain obstinately high, three months after the new foreclosures and insolvency laws were implemented and it appears that it will take more time to see if they are effective.
According to the Cyprus Central Bank NPLs rose to €27.39 billion by the end of July, an increase of €351 million over the June figure of €27.04 million. (At the end of 2014 NPLs stood at €27.33 billion.)
Loans to households stood at €22.8 billion of which 55.5% (€12.7 billion) were non-performing.
Construction loans amounted to €6.5 billion, of which 77.5% (€5.1 billion) were non-performing.
Loans for real estate activities stood at €4.1 billion of which 54% (€2.2 billion) were non-performing.
Aggregate data for the Cyprus banking and co-operative sectors (Cyprus Central Bank 23.09.2015)