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NPFs drop by €19 million at the end of February 2019 

June 22, 2019 at 10:35am
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Non-performing facilities at end-February 2019 dropped by €19 million to €10.29 billion compared with January 2019, figures released on Friday by the Central Bank of Cyprus (CBC) showed.

However, the ratio of NPFs to total facilities increased to 31.1% at the end of February 2019 from 30.3% in January 2019, as a result of the reduction of the total facilities from €34.03 billion in January 2019 to €33.12 in February 2019.

The percentage of loans with arrears less than 90 days reached 24.1% in February compared with 23.3% in January 2019.

The coverage ratio decreased to 51.3% in February from 51% at the end of January 2019.

Total loans restructured amounted to 19.8% at the end of February compared to 19.4% in January 2019.

Total NPEs in February 2019 amounted to €10.29 billion compared to €10.31 billion in January 2019. Loans with arrears less than 90 days increased respectively to €7.97 billion compared to €7. 95 billion.

Total loans restructured in February amounted to € 6.54 billion of which €4.62 billion were still classified as non-performing loans.

Total provisions amounted to €5.29 billion at end-February 2019.

(Cyprus News Agency)