Insider Business Bad loans in Cyprus at €19.9 billion at the end of April 

Bad loans in Cyprus at €19.9 billion at the end of April 

 

Bad loans stood at €19.9 billion at the end of April, data released on Thursday by the Central Bank of Cyprus show.

The Cyprus Central Bank’s data on banks’ local operations show a small drop in Non-Performing Facilities (NPFs) from the figures released for March.

Central Bank figures showed that total facilities declined by €695 million from €47.08 billion at end of December 2017 to €46.38 billion in April 2018.

Total restructured facilities at the end of April 2018 amounted to €11.283 b, of which €8.273 b are still classified as NPFs, partly due to the definition of NPFs, based on which a restructured NPF remains under observation within the NPF category for a further period of at least 12 months.

A net reduction in restructured facilities of €537.7 million was recorded at the end of April 2018, compared to end-December 2017. Households held the largest part of NPFs amounting to €10.80 billion, whereas enterprises held NPFs of €8.83 billion.

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