20.09.2022
Non-performing loans (NPE) fell slightly to €2.92bn in June 2022, down just €34m from the previous month, according to data released by the Central Bank of Cyprus (CBC) on Monday. The ratio of NPE to total loans was 11.2% in June from 11.4% a month earlier.
Net non-performing loans (excluding restructured loans, which remain classified as non-performing under the EBA’s directive) fell by 65 million euros to 2.05 billion euros in June.
According to the CBC, the total amount of restructured properties in June ranged from 3.27 billion euros to 3.30 billion euros a month earlier, of which 1.41 billion euros were classified as non-performing, compared to 1.54 billion euros in May 2022.
Total accumulated reserves were broadly unchanged at €1.48 billion in June 2022, of which €1.35 billion were for NPS with an NPP coverage ratio of 46.2%.
Corporate NPES fell to €1.16bn in June from €1.19bn in May, of which €0.89bn was accounted for by SMEs, compared with €0.93bn a month earlier, according to the CBC. The coverage ratio for corporate NPEs was 61%, while the coverage ratio for SMEs was 64%.
Household NPEs were €1.43 billion in June, up from €1.47 billion the previous month, with bad debt provisions at 33%, the CBC added.
