Economy category powered by

NPLs rose slightly in January

08:09 - 28 April 2023

Economy

Non-performing loans (NPLs) rose by €12.8m in January compared with December 2022, reaching €2.32b or 9.5% of total loans, according to data released by the Central Bank of Cyprus (CBC).

Total loans in January amounted to €24.3b, down from €24.36b the previous month. Provisions against NPLs amounted to 47.2% in January 2023.

Loans with amounts due over 90 days amounted to €1.84b, corresponding to 7.6% of total loans compared with €1.83b the previous month (7.6%).

Total restructured loans amounted to €2.71b (€2.73b in December 2022), whereas restructured facilities which continued to be classified as non-performing totalled €1b.

Of total NPLs, the majority belonged to households with €1.29b, while NPEs held by non-financial corporations amounted to €969m, of which €835m belonged to small and medium-sized enterprises. The coverage ratio for corporate NPLs amounted to 63.2% while provisions for household NPLs stood at 34.5%.

News Feed

Read More

The essential ingredients for Cyprus’ future as an international business and financial hub
Tourist arrivals up 7.5% in Q1, down 0.8% in March
Cyprus-Germany Business Association holds networking event in Nicosia
Makis Keravnos urges structured dialogue between EU-USA on tariffs
New era at CIBA with Vassilios Demetriades at the helm
Cabinet approves bills for national unit to implement economic sanctions
US Ambassador meets with the President of the Cyprus Olympic Committee at the Olympic House
Second-placed Cyprus among the EU members transporting most freight by sea in 2023
The profiles, HQs, assets under management and more of Plug and Play Tech Center and Tenstorrent
Punin Group launches delicious new venture: The Croissant by Punin