News Local NPLs in Cyprus in April slightly on the rise

NPLs in Cyprus in April slightly on the rise

Non-performing loans (NPLs) in Cyprus rose slightly in April corresponding to 27.7% of total ones, according to latest data released by the Central Bank of Cyprus.

NPLs in April rose to €8.95 billion from €8.92 billion in the previous month, CNA also reported.

And, in accordance with the directive of the European Banking Authority, NPLs include restructured facilities which are considered as NPLs at least for a one year curation period.

As a percentage of total loans, NPLs remained unchanged to 27.7% in April due to the increase in total loans which amounted to €32.3 billion compared with €32.2 in the previous month.

Loans in arrears over 90 days, that do not include restructured facilities, rose for a fourth consecutive month in 2020 to €7.62 billion from €7.56 billion the previous month and amount to 23.6% of total loans.

Total accumulated provisions in April rose to €5.11 billion from €5.01 billion in the previous month and amount to 55.2% of total NPLs, CBC said.

Household NPLS amounted to €4.26 billion while corporate NPLs stood at €3.96 in April, of which €3.46 concerned small and medium-sized enterprises (SMEs).

Accumulated provisions for household NPLs amounted to 47.2% with the respective provisions for corporate NPLs amounting to 62%.

Bank provisions for NPLs for SMEs amounted to 62.5% in April, the CBC also said.

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