16.08.2022
Non-Performing Loans (NPE) in the Cypriot banking system stood at €2.93 billion in April 2022, marking a slight increase for the second month in a row.
According to data published by the Central Bank of Cyprus (CBC), NPES (including both loans overdue by more than 90 days and restructured loans) amounted to 2,936 million euros or 11.4% of total loans in the banking system.
The increase is due to an increase in both overdue loans over 90 days and an influx of new restructured loans, which continue to be classified as non-performing over a one-year correction period under the EBA’s directive.
Net NPLS, NPLs excluding restructured loans in April were €2,117 million in April 2022, compared to €2,109 million in the previous month.
In addition, the total volume of restructured properties in April amounted to 3,323 million euros compared to 3,314 million euros a month earlier, according to CBC.
Accumulated reserves amounted to 1,470 million euros, or 45.4% of total non-performing loans, CBC added.
Households held 50% or €1,473 million of total NPEs, while corporate NPEs accounted for €1,181 million, representing 40% of total NPEs, according to the CBC. Of the total non-performing corporate loans, €924 million is accounted for by small and medium-sized enterprises (SMEs).
