The October drop in bad loans in the Cypriot banking system, considered the number one risk for the country’s economic and financial stability, resulted mainly from a €33.3m drop in corporate non-performing loans in a month, to €11.3bn, the central bank said in a statement on its website on Friday.
Household non-performing loans dropped by €4.3m to €12.3bn. The overall non-performing loan ratio dropped marginally to 48.5%.
The amount of restructured facilities rose by €11.5m in October to €13.6bn in a month while the amount of loans with more than 90 days in arrears rose by €46.8m to €18bn, the bank supervisor said. The amount of restructured facilities classified as non-performing was €10.1bn in October. The accumulated provisions in the system dropped by €98m to €9.3bn.
Source: Cyprus Mail