SUNDAY, 19 AUG 2018

 

CONNECT

Facebook Linked In Twitter
MTN_07/07-10/04_728x90px
Invest Cyprus 30/04-30/03/2019
IMH LTD

Turk Telekom to Cooperate with Vestel after Erdogan Call to Snub iPhone

Stephen Lillie: There Is No Plan B for The Cyprus Problem

IMH LTD
MTN_07/07-10/04_468x60px

ECONOMY

NPLs Decline Slightly Below €22 Billion in February

NPLs Decline Slightly Below €22 Billion in February

Non- performing exposures (NPEs) in the Cypriot banking system declined below €22 billion in February representing 45.3% of total loans, according to data released today by the Central Bank of Cyprus (CBC).

In January 2018, NPEs spiked by almost €2 billion compared with December 2017, due to the impact of the International Financial Reporting Standard 9 which forces banks to recognize expected losses.

Owing to the IFRS 9, accumulated provisions for credit losses reached a new high since 2014, amounting to €11.84 billion which corresponds to a coverage ratio of 54% of total NPEs, the CBC added.

In absolute terms, NPEs declined in February by €0.12 billion or 0.55% to €21.9 billion compared with €22.11 in January.

Total loans in February registered an increase of €99 million amounting to €48.5 billion.

Restructured facilities declined to €12.02 billion in February marking an increase of €61 million compared with the previous month
Restructured facilities that continue to be classified as non-performing increased by €11 million amounting to €8.87 billion in February.

In February, Household NPEs accounted for 52% of total NPEs amounting to €11.36 billion while corporate non-performing loans accounted for 46% of total NPEs amounting to €10.15 billion of 46% of total NPEs, the Cyprus News Agency reports.

MORE ON ECONOMY

Local Beer Consumption And Beer Exports Increase In July

Local beer consumption and beer exports from local breweries increased in July 2018, ...

Prodromou Says Realistic To Expect A GDP Growth Rate Of More Than 4% For 2018

Government Spokesman Prodromos Prodromou has said that the Statistical Service`s ...

Georgiades: The Growth Rate of 3.9% Proves The Hard Work of our Productive Forces

Cyprus Economy has recorded 3,9% of growth rates in the second quarter of 2018, according ...

FROM AROUND GOLDNEWS

   

Stephen Lillie: There Is No Plan B for The Cyprus Problem

There is a clear plan A for Cyprus, that of a bi-zonal, bi-communal federation solution, and there is no plan B, UK High Commissioner in Nicosia, Stephen ...
   

Euro Area International Trade in Goods Surplus €22.5 bn

Euro area According to Eurostat, the first estimate for euro area (EA19) exports of goods to the rest of the world in June 2018 was €198.6 billion, an ...
   

House of Fraser Cancels Online Orders and Refunds Customers

House of Fraser is cancelling all online orders and refunding thousands of customers potentially millions of pounds, after a dispute with its warehouse ...
   

Turk Telekom to Cooperate with Vestel after Erdogan Call to Snub iPhone

Turkish fixed-line operator Turk Telekom has said that it clinched a cooperation deal with Vestel after President Tayyip Erdogan called on Turks to use ...
   

New Motorola Phone Is Identical to The iPhone X

Smartphone brand Motorola has been criticised for revealing a "shameless" copy of the iPhone X as its new model, the BBC reports. Many ...
   

GOLD Magazine: The Legal Issue

Over the last decade, Cyprus has succeeded in becoming recognised as an international business centre, in particular thanks to his excellent professional ...
   

Cyprus Records €1.9bn Trade Deficit For January - June 2018

According to Eurostat, the first estimate for euro area (EA19), exports of goods to the rest of the world in June 2018 was €198.6 billion, marking an increase ...
   

New Poseidon Villa Collection Opens at Aphrodite Hills Resort

Aphrodite Hills Resort has recently opened their new, luxury Poseidon Villa Collection. According to Luxury Travel Magazine, properties range from ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Invest Career 19/04-26/08
GloriaJeans_300x250px

IMH LTD