Insider Economy Bad loans down at €9,7 billion in August 2019

Bad loans down at €9,7 billion in August 2019

Non – performing facilities (NPFs) in Cyprus banks recorded a slight decrease of approximately € 1.4 million in August 2019 compared to the previous month, according to the latest data released from the Central Bank of Cyprus (CBC). Total NPFs represented 29.3% of total loans.

According to CBC data as of 31 August 2019, total NPFs decreased to € 9,667 million, compared to € 9,681 million in the previous month and € 10,260 million at the end of 2018.

The share of NPFs against total lending fell slightly to 29.3%, from 29.6% in the previous month.

Households hold the largest share of NPFs, which however declined in August 2019 to € 4,965 million or 36.7% from € 4,971 million in July 2019 and € 5,165 million at the end of 2018. Non – financial corporations follow, with NPFs worth € 4,378 million or 29.4% of the total loans, up from € 4,389 last month and € 4,764 million at the end of 2018. About € 3,702 million of corporation’s NPFs belong to SMEs.

Overdue loans over 90 days increased to € 7,834 million from € 7,794 million in the previous month, up to 23.7% on total loans.

Loans restructured decreased to € 6,009 mn from € 6,071 mn in the previous month and amounted to 18.2% of total loans of which € 4,315 mn remain NPFs.

Total accumulated provisions amounted to € 5,151 million or 51.5%.

(Cyprus News Agency)

Top Stories

Drop in new covid cases and hospitalised, 202 and one death

  Cyprus recorded one covid-19 death over the past 24 hours, raising the number of victims to 167, 111 men and 56 women with an...

Rapid test locations on Sunday

  Here are the rapid test locations for Sunday January 17 Limassol Tassos Papadopoulos Building-Technical University Limassol (corner of Ifigeneias and Themidos) 8.30-04.30 Ayia Varvara Church Zakaki 9.00-04.30 Ayios Stylianos Church,...

Low visibility on highways as bad weather continues

  Visibility is very low on the Larnaca-Nicosia and Nicosia-Limassol highways, with the network near the Mosfiloti area becoming waterlogged. Police are calling on drivers to...

Explainer: Can Trump pardon himself? Would the courts reject the move?

  As he prepares to end a tumultuous four years as U.S. president facing potential legal jeopardy, Donald Trump has discussed the possibility of pardoning...

U.S. state capitals on edge for armed protests as Trump presidency nears end

  U.S. law enforcement officials are gearing up for pro-Trump marches in all 50 state capitals this weekend, erecting barriers and calling in their National...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...