25.02.2022
According to data released on Friday by the Central Bank of Cyprus, the total amount of non-performing loans (NPL) in the banking sector of Cyprus in November 2021 did not change significantly, reaching 4.24 billion euros from 4.26 billion euros in the previous month.
Loans overdue more than 90 days, which are classified as overdue, showed a slight increase for the second month in a row and amounted to 3.30 billion euros in November from 3.28 billion euros in the previous month.
Since the end of 2020, non-performing loans have decreased by 0.84 billion euros, mainly due to the sale of non-performing loans by the Bank of Cyprus.
As a percentage of total loans, NPLs stood at 15.1% from 15.3% in the previous month, while the percentage of net NPLs in total loans remained unchanged at 11.8%.
According to the CBC, corporate non-performing loans remained unchanged in November at 1.76 billion euros, while non-performing loans to households fell slightly to 2.17 billion euros from 2.18 billion euros last month.
Non-performing household loans accounted for 51% of the total NPLs, while corporate NPLs accounted for 41.5%. At the same time, the level of coverage of problem loans to legal entities amounted to 57.2%, and the level of coverage of problem loans to households amounted to 41%.
Total accumulated impairment provisions were €2.19 billion in November compared to €2.14 billion in the previous month, of which €2 billion were NPLs, with a coverage ratio of 47.7% from 46.5% in last month.
The total volume of loans in November 2021 amounted to 28 billion euros, compared to 27.9 billion euros in the previous month.
