EU banks cut toxic loans, but pace of improvement slowing
Cypriot and Greek banks improve NPL ratios the most in nine months to end-June
Most European Union banks reduced their ratio of non-performing loans (NPLs) to total exposures over the year to end-June, data from the EU-wide transparency exercise shows, with those domiciled in countries hardest hit by the eurozone crisis improving the most.
In aggregate, the EU-wide NPL ratio shrunk to 3% at end-June, down from 3.6% a year earlier.
Cypriot banks disclosed the biggest cut to their aggregate NPL ratio, which fell by almost 13 percentage points to 21.5% over the period.
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