Non-performing loan

NPLs steady at €2 billion in Cyprus

Nonperforming loans in the Cypriot banking system remained essentially unchanged at 2 billion euros in October 2023, marking a marginal reduction of just €2 million, in an environment of rising interest rates.

According to data released by the Central Bank of Cyprus on Tuesday, bad loans in October amounted to €2.015 billion from €2.017 billion the month before.

Turkish banks’ asset quality risks manageable: BofA

Recovery in the Turkish banking system's core spreads and an improved fee base will continue to support revenues, the Bank of America (BofA) has said in a recent report, adding that it sees asset quality risks as manageable.

"Normalization" is probably the best word to describe the ongoing dynamics in the Turkish banking system, the authors of the report said.

Cypriot NPLs show growth in January

Nonperforming loans in Cyprus rose by 12.8 million euros in January 2023 compared with December 2022, amounting to €2.32 billion or 9.5% of total loans.

According to data released on Thursday by the Central Bank of Cyprus (CBC), total loans in January 2023 amounted to €24.3 billion, €24.36 billion lower than in December 2022. Provisions against NPLs amounted to 47.2% in January 2023.