Non-performing loans in Cyprus rise for second month

October 16, 2019 at 5:00pm
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Non-performing loans (NPLs) rose for a second consecutive month in May amounting to €8.05 billion with non-performing exposures (NPEs) calculated according to EBA rules dropping by €11 million to €10.13 billion which corresponds to 30.8% of total loans, according to data released on Wednesday by the Central Bank of Cyprus (CBC).

NPLs, loans in arrears over 90 days in may rose in May to €8.05 billion from €7.98 billion the previous month, marking the second consecutive rise increase, as NPLs in April rose by €71 million compared to March.

Loans in arrears over 90 days shows the net flow of NPLs as it does not include restructured loans, compared to NPEs which include restructured facilities that remain as non-performing for a period of one year.

NPEs in May amounted to €10.13 billion marking a negligent reduction of €11 million from the previous month. Restructured facilities in the end of May amounted to €6.39 billion, of which €4.58 billion were restructured facilities that continue to be considered as non-performing.

Accumulated impairments in May amounted to €5.29 billion or 52.2% of total NPEs, the CBC added.

From the total NPEs, €5.14 billion were bad loans belonging to households and €4.67 in corporate NPEs, of which €4.0 billion in small and medium-sized enterprises, the CBC added.

(Cyprus News Agency)