Non-Performing Loans: Banks Rehabilitated Sector, Debt Burden Remains
Cyprus has undergone one of the most comprehensive bank system rehabilitations in Europe. While non-performing loans, which accounted for nearly half of the entire credit portfolio in the mid-2010s and exceeded this value in some portfolios, have been drastically reduced, the debt burden for many borrowers persists. The improvement in the banking situation contrasts with the ongoing debt situation of many individuals.