Cypriot construction sector NPLs highest in Europe

4 weeks ago Business Mail BusinessMail Warm

Cypriot construction sector NPLs highest in Europe

By Stelios Orphanides

Almost a decade after the 2008 real estate bubble bust, Cyprus’s ratio of non-performing loans in the real estate and construction sector remain among the highest in the European Union (EU) and European Economic Area (EEA), the European Banking Authority said.

The non-performing loans ratio of construction companies was 75 per cent in March down from 76 per cent in December which was in both cases the highest in Europe, the EBA said in its quarterly Risk Dashboard report on its website. That of the real estate sector stood at 39 per cent at the...

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