Insider Economy NPEs in Cyprus banks down to €9.7 billion in July

NPEs in Cyprus banks down to €9.7 billion in July

Non-Performing Exposures (NPEs) in Cyprus banking sector, recorded a decrease by €27 million, to €9.68 billion in July 2019, compared to the previous month, according to the latest data released by the Central Bank of Cyprus (CBC). The ratio of NPEs on total loans decreased slightly to 29.6%.

According to CBC data as of 31 July 2019, total NPEs decreased to € 9.68 billion, compared to €9.70 billion last month and €10,260 million at the end of 2018.

The ratio of NPEs on total loans fell slightly to 29.6% from 29.8% in the previous month.

Households had the largest amount of NPEs, which however declined in July 2019 to € 4.97 billion or 36.7% from € 5 billion in June 2019 and € 5.16 billion at the end of 2018. Companies NPEs increased to € 4.39 billion or 29.5%, from € 4.38 last month and € 4.76 billion at the end of 2018.

Overdue loans over 90 days increased to € 7.79 billion or 23.8% over total loans, from € 7.76 billion in June 2019 and €7.62 billion at the end of 2018.

Loans restructured decreased to €6.1 billion or 18.6% (from € 6.11 billion in June 2019), of which €4.33 billion were still classified as non-performing loans.

Total cumulative provisions amounted to €5.14 billion at the end of July 2019.

(Cyprus News Agency)

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