IMF says no to CoLA rise, warns of NPLs

The International Monetary Fund (IMF) warned the government against increasing the Cost-of-Living Allowance while pointing to threats posed by a possible rise in Non-Performing Loans due to hiking interest rates. The IMF

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Banking system NPLS remain at 10.5%

Non-performing loans in the Cyprus banking system remained unchanged in November, with the NPL rate to total loans at 10.5%, according to the central bank. According to the latest data, total NPLs

Cyprus seeks rent scheme to tackle €3 bln NPLs

Cyprus and the EU are expediting the process to transform the state-owned Asset Management Company (KEDIPES) into a nationwide AMG to launch a mortgage-to-rent scheme. The scheme will cover non-performing loans collateralised

Toxic bank loans rise to 11.7%

The rate of non-performing loans in the Cyprus banking sector increased to 11.7% of total loans in January from 11.1% at the end of 2021, data released by the Central Bank of Cyprus on

Cyprus has EU’s highest stock of NPLs

Cyprus has the EU’s highest stock of non-performing loans (assets) of the general government, according to Eurostat data. The share of non-performing loans over the country’s GDP stood at 28.3% in 2020,

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