The banks only exceeded in the indicator on the proposed sustainable solutions as a percentage of the loans presenting arrears over 90 days, with a ratio of 16.7%, 2.08% above the target, the Central Bank said in a statement on its website on Thursday. In the last quarter of 2016, the banks posted a 21.84% ratio.

On the other hand, Cypriot lenders scored only 7.17% in concluding sustainable solutions as a percentage of loans representing arrears over 90 days in January to March, against a target ratio of 15.07% and a conclusion ratio of 11.28% in the quarter before, the central bank said.

The percentage of loans restructured after the beginning of 2014 until the end of the fourth quarter of 2016 with their restructuring terms being met translating into less than 8 days in arrears, banks posted a 68.68% ratio, against a 72.19% indicator, the central bank said.

Finally, the aggregate arrears cure ratio of loans that presented arrears over 30 days and up to 90 days at the beginning of the quarter and by the end of the quarter did not present any arrears, was 33.27% against a target indicator of 44.53% in the first quarter, the central bank said. In the previous quarter, the reported ratio was 42.87%.

By the end of the first quarter, non-performing loans fell by €637.6m to €23.2bn compared to December, and accounted for 46% of total loans.

Source: Cyprus Mail