Non-performing loans as a share of bank loans reached 19.5 % in 2018 in Cyprus, according to the National Central Bank. This is 37.8 % less than in the previous year.
Historically, non-performing loans as a share of bank loans in Cyprus reached an all time high of 47.7 % in 2015 and an all time low of 3.59 % in 2008. When compared to Cyprus's main peers, non-performing loans as a share of bank loans in Greece amounted to 42.0 %, 1.23 % in Israel and 3.69 % in Turkey in 2018.
Cyprus has been ranked 7th within the group of 119 countries we follow in terms of non-performing loans as a share of bank loans, 42 places above the position seen 10 years ago.
A non-performing loan is a loan that is in default or close to being in default.