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Bad loans down at €9,7 billion in August 2019

January 14, 2020 at 4:25pm

Non – performing facilities (NPFs) in Cyprus banks recorded a slight decrease of approximately € 1.4 million in August 2019 compared to the previous month, according to the latest data released from the Central Bank of Cyprus (CBC). Total NPFs represented 29.3% of total loans.

According to CBC data as of 31 August 2019, total NPFs decreased to € 9,667 million, compared to € 9,681 million in the previous month and € 10,260 million at the end of 2018.

The share of NPFs against total lending fell slightly to 29.3%, from 29.6% in the previous month.

Households hold the largest share of NPFs, which however declined in August 2019 to € 4,965 million or 36.7% from € 4,971 million in July 2019 and € 5,165 million at the end of 2018. Non – financial corporations follow, with NPFs worth € 4,378 million or 29.4% of the total loans, up from € 4,389 last month and € 4,764 million at the end of 2018. About € 3,702 million of corporation’s NPFs belong to SMEs.

Overdue loans over 90 days increased to € 7,834 million from € 7,794 million in the previous month, up to 23.7% on total loans.

Loans restructured decreased to € 6,009 mn from € 6,071 mn in the previous month and amounted to 18.2% of total loans of which € 4,315 mn remain NPFs.

Total accumulated provisions amounted to € 5,151 million or 51.5%.

(Cyprus News Agency)