articles | 13 January 2017

Cyprus' NPLs drop to €24.1bn in October 2016

The Central Bank of Cyprus said that the amount of non-performing loans dropped in October 2016 by €37.6m to €24.1bn, the lowest since the introduction of its current methodology in December 2014.

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

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