NPLs fall to €21.1bn or 43.7% in November 2017, CBC says - Cyprus Profile


    Articles | 02 March 2018

    NPLs fall to €21.1bn or 43.7% in November 2017, CBC says

    Delinquent loans in the Cypriot banking system fell in November 2017 by €284.2m in a month and by almost ten times as much in a year to €21.1bn or to 43.7%, the lowest in almost four years, the central bank said.

    The drop in November was mainly on a €180.5m reduction of corporate non-performing loans to €9.4bn, which included a €39.5m reduction of those of small and medium size enterprises (SMEs) to €8.4bn, the Central Bank of Cyprus said in a statement on its website on Thursday. Household non-performing loans fell by €107.8m to €11.2bn. Those of other financial corporations rose by €4.5m to €488.3m.

    Total outstanding loans also fell in November by €278.11m to €48.3m, the bank supervisor said. The amount of loans remaining unserviced for more than 90 days fell by €130.3m to €16.5bn.

    Total restructured facilities, which continue to be classified as non-performing for a minimum probation period of 12 months, fell in November by €57.5m to €12.2bn, the supervisor added. The amount of restructured facilities regularly serviced by borrowers fell by €60.7m to €8.6bn. As a result, the cure ratio of loan restructurings was 70.1%.

    Lastly, the total amount of provisions for loan impairment in the banking system fell by €131.6m to €9.9bn, it said.

    Source: Cyprus Mail


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