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ECONOMY

Bad Loans In Cyprus At €19.9 Billion At The End Of April

Bad Loans In Cyprus At €19.9 Billion At The End Of April

Bad loans stood at €19.9 billion at the end of April, data released on Thursday 9 August by the Central Bank of Cyprus show.

The Cyprus Central Bank’s data on banks’ local operations show a small drop in Non-Performing Facilities (NPFs) from the figures released for March.

In particular, March had registered the largest drop totalling €2,074 million, in the first quarter of 2018. NPFs stood at €21.9 billion in February.

In March NPF’s were recorded at €19,917,648,000 while the figure released for April shows NPFs at €19,916,144,000.

Central Bank figures showed that total facilities declined by €695 million from €47.08 billion at end of December 2017 to €46.38 billion in April 2018, the Cyprus News Agency reports.

Total restructured facilities at the end of April 2018 amounted to €11.283 million, of which €8.273 million are still classified as NPFs, partly due to the definition of NPFs, based on which a restructured NPF remains under observation within the NPF category for a further period of at least 12 months.

A net reduction in restructured facilities of €537.7 million was recorded at the end of April 2018, compared to end-December 2017.
Households held the largest part of NPFs amounting to €10.80 billion, whereas enterprises held NPFs of €8.83 billion.

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