CYPRUS: Toxic debt represents 31.8% of all bank loans

Non-Performing Exposures (NPEs) increased by Euros 10 mln to Euros 11.11 bln in November from Euros 11.10 bln in October, while loans overdue for less than 90 days rose to Euros 8.31 bln from Euros 8.27 bln during the same period.

According to figures issued by the Central Bank of Cyprus, the ratio of NPEs on total loans (Euros 34.92 bln) remained at 31.8% in November, unchanged from September 2018.

The percentage of loans overdue for less than 90 days reached 23.8% compared to 23.7% in October 2018.

The percentage of total accumulated provisions for NPEs was 51.7% compared to 51.8% in October 2018.

Total loans restructured amounted to 20.3% compared to 20.7% in October 2018.

Despite the fact that the ratio remained unchanged, both NPEs and loans overdue for less than 90 days increased compared to October 2018.

NPEs rose in November 2018 by Euros 10 million.

Total restructured loans amounted to Euros 7.10 bln of which Euros 4.86 bln were still classified as non-performing loans.

Total cumulative provisions amounted to Euros 5.75 bln at the end of November 2018.

Source: The Financial Mirror