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ECONOMY

Non-performing Facilities Decrease by €24 Million in July 2018

Non-performing Facilities Decrease by €24 Million in July 2018

Banks’ Non-performing facilities (NPFs) decreased by €24 million in July 2018 to €16.61 billion from €16.63 billion in the previous month, according to figures released on Wednesday by the Central Bank of Cyprus.

The percentage of facilities classified as non-performing stood at 40.4% of the total facilities at the end of July 2018 compared with 40.3% in the previous month. Since the end of 2017, NPFs have fallen by € 3.96 billion.

Out of the total of NPFs, €9.25 billion were restructured of which €6.42 billion are still classified as NPFs compared to €6.44 billion in the previous month.

Total facilities with over 90 days’ delay amounted to €12.98 billion at the end of July 2018, compared to €12.96 billion in June 2018 or 31.5% of total facilities.

In addition, total facilities dropped to €41.15 billion at the end of July 2018 from € 41.28 billion in June 2018. Since the end of December 2017 total facilities decreased by € 5.92 billion.

Cumulative bank provisions stood at 48.1% (€ 7.99 billion) compared to 48.3% (€ 8.03 billion) in June 2018 and 46.8% at the end of 2017.

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