Cyprus banks turn to household loans in an attempt to reduce the islands' NPLs

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In an attempt to recover the Cyprus’ bad reputation with non-performing loans (NPLs), banks are now reportedly looking to restructure household loans, after almost supposedly exhausting all other restructuring possibilities with their large corporate clients, the Central Bank of Cyprus said in a statement. Household non-performing loans dropped to €12.1bn in November, which exceeded the respective reduction in corporate non-performing loans for the first time ever. While corporate non-performing loans fell to €11.2bn.