The nonperforming loans (NPL) ratio in Cyprus decreased to 6.5% or 1.6 billion euros at the end of September 2024, from 6.9% or €1.7 billion at the end of June 2024, the Central Bank of Cyprus (CBC) announced on Tuesday.
The coverage ratio of NPLs with provisions increased to 55.7% (or €0.9 billion) at end-September 2024, compared to 55% three months earlier.
The decrease in NPLs during the third quarter of 2024 is mainly attributed, in order of significance, according to the CBC, to:…