articles | 26 July 2021

Non-performing exposures rose in April

Non-performing exposures (NPEs) rose slightly in April pushed upwards by increased restructuring, according to Central Bank data released on Saturday.

NPEs in April reached €5.14 billion compared with €5.13 billion the previous month. The ratio of NPE to total loans rose to 18.1% in April, from 17.9% the previous month, while total loans dropped to €28.44 billion in April from €28.63 billion in March.

Loans in arrears over 90 days, that is net NPEs excluding restructured facilities that under the EBA directive continue to be classified as non-performing for at least a year, declined to €3.92 billion in April from €4.0 billion the previous month.

Total restructured facilities rose to €2.32 billion in April, from €2.22 billion the previous month and €2.23 billion at the end of 2020, indicating the increased restructuring in the banking sector after the end of the repayment holiday due to the Covid-19 pandemic.

According to the CBC, total provisions at the end of April reached €2.6 billion, of which €2.43 billion was associated with NPEs.

Of the total €5.13 billion NPEs in April, €2.75 billion were held by households and €2.18 billion were business NPEs, the CBC said.

Source: Cyprus Mail

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