NPLs in Cyprus banking system remain broadly unchanged in April

13:28 - 18 July 2023

Economy Reporter

Non-performing loans (NPLs) in the Cyprus banking system in April amounted to €2.19 billion with the ratio of NPLs to total loans remaining steady at 9%, according to data released by the Central Bank of Cyprus (CBC).

NPLS in April amounted to €2.19 billion compared with €2.20 billion the previous month, whereas the amount of total loans in April declined to €24.33 billion from €24.43 billion in the previous month.

Total loans in arrears for over 90 days in April remained unchanged to €1.73 billion and amounted to 7.1% of total loans, the CBC added.

According to the CBC, total restructured facilities declined marginally to €2.37 billion from €2.43 billion the month before, while restructured loans amounting to €0.98 billion continued to be classified as non-performing, from €0.99 billion in March.

Total provisions taken by banks, rose to €1.08 billion in April from €1.07 billion the month before and accounted for 49.4% of total NPLs from €48.8% in the previous month.

According to the CBC, 56% of total NPLs or €1.23 billion were held by households, while €0.92 billion were held by non-financial corporations.

The majority of restructured loans amounting to €1.57 billion were held by non-financial corporations whereas restructured facilities of households amounted to €0.73 billion.

Total provisions for corporate NPLs amounted to 64.1% whereas provisions for household NPLs stood at 37.3% in April, the CBC added.

(Source: CNA)

NPLs in Cyprus banking system remain broadly unchanged in April

News Feed

Read More