Bad loans in the Cyprus banking system at €9.42 billion in November 2019

Non-performing exposures in the Cyprus banking system amounted to €9,418 million in November 2019

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Bad loans in the Cyprus banking system at €9.42 billion in November 2019

Non-performing exposures in the Cyprus banking system amounted to €9,418 million in November 2019 recording an NPE rate of 28.5% of total loans, data released today by the Central Bank of Cyprus (CBC) show.

According to the CBC, total NPEs (according to the EBA definition) marked a reduction of €60 million compared with October 2019 and €841 million compared with the respective month of 2018.

Total loans recorded as 90 days past due, which shows the flow of new NPLS, also marked a reduction of €11 million compared with the previous month and amount to €7,827 million or 23.7% of total loans, the CBC added.

Restructured loans in November 2019 amounted to €5.69 billion, of which €4.17 billion were restructured facilities that continue to be classified as NPL, as per EBA definition.

According to the CBC, total accumulated provisions amounted to €5.13 billion or in end-November, with provisions associated with NPEs amounting to €5.0 billion.

Corporate loans in end-November totalled €14.87 billion, of which €4.19 or 28.3% were classified as non-performing, while total household loans amounted to €13.4 billion oF which €4.86 billion or 36% were classified as NPEs, the CBC added.

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