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NPLs In Cyprus Rise Slightly In April

NPLs In Cyprus Rise Slightly In April

Non-performing loans (NPLs) rose slightly in April corresponding to 27.7% of total loans, according to data released by the Central Bank of Cyprus.


 
According to the CBC data, NPLs in April rose to €8.95 billion from €8.92 billion in the previous month. As per the directive of the European Banking Authority (EBA) NPLs include restructured facilities which are considered as NPLs at least for a one year curation period.


 
As a percentage of total loans, NPLs remained unchanged to 27.7% in April due to the increase in total loans which amounted to €32.3 billion compared with €32.2 in the previous month. Loans in arrears over 90 days (90 DPD), which do not include restructured facilities, rose for a fourth consecutive month in 2020 to €7.62 billion from €7.56 billion the previous month and amount to 23.6% of total loans.


 
Total accumulated provisions in April rose to €5.11 billion from €5.01 billion in the previous month and amount to 55.2% of total NPLs, CBC said. Household NPLS amounted to €4.26 billion while corporate NPLs stood at €3.96 in April, of which €3.46 concerned small and medium-sized enterprises (SMEs).


 
Accumulated provisions for household NPLs amounted to 47.2% with the respective provisions for corporate NPLs amounting to 62%. Bank provisions for NPLs for SMEs amounted to 62.5% in April, the CBC added.

 

Source:CNA

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