The level of non-performing loans in the banking sector of Cyprus is 11.7% of total loans at the end of January 2022, compared to 11.1% at the end of 2021, according to data published by the Central Bank of Cyprus (CBC).
Problem loans, as defined by the European Banking Authority, rose to EUR 3,006 million in January 2022 from EUR 3,000 at the end of December 2021.
The loan coverage ratio rose to 43.6% from 43.1% in the previous month, CBC added.
In addition, total loans at the end of 2021 decreased from 27.01 billion euros at the end of December to 25.56 billion euros in April. The central bank notes that the large decline in total lending is mainly due to loan repayments.
Since December 31, 2014, non-performing loans have decreased by 24.3 billion euros, or 89%, according to the CBC.