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NPEs at 46.2% of total loans at Cyprus banks in May

Non-Performing Exposures (NPEs) of Cypriot Banks declined in May 2017 by €128 million, to € 23.03 billion, but increased slightly as a percentage of total loans to 46.2% from 46.1% last month, according to data released  by the Central Bank of Cyprus.

This slight increase in the percentage is due to the large monthly decrease of € 396 million in total loans compared to the decrease of € 128 million in NPEs, the date released on Friday said . Total loans at the end of May 2017 amounted to € 49.85 billion.

By the end of 2014, NPEs have been reduced by € 4.29 billion, while total loans have decreased by € 7.36 billion.

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Total loans restructured in May 2017 decreased € 12.93 billion from € 12.98 billion in the previous month and was at 25.9% of total loans. Of these, € 9.11 billion remained in NPEs classification, from € 9.16 billion in April 2017.

In addition, total lending with a delay of more than 90 days increased by € 3 million to €17.83 billion in May 2017 from € 17.82 billion in May 2017, to 35.8% of total loans, from 35.5% in April 2017.

Also, according to CBC data, the banks` total provisions for NPEs amounted to € 9.80 billion, from € 9.86 billion in April 2017, corresponding to 42.6% of total NPEs.

Households – Businesses
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Moreover, in May 2017, households` NPEs amounted to € 11.96 billion, from € 11.99 billion in April 2017, which is 55.9% of total loans to households, amounting to €21.40 billion.

Household loans that have been restructured amounted to € 6.01 billion, of which € 4.30 billion are still classified as NPEs.
The banks have made provisions of € 4.76 billion or 39.8%, for household NPEs.

In May 2017, NPEs of non-financial corporations declined to € 10.56 billion from € 10.67 billion in the previous month and were 54% of total loans to the sector.

Banks` total provisions for NPEs of non-financial corporations amounted to € 4.77 billion or 45.1%. (CNA)

 

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