Non-performing facilities down by Euros 24 million in July 2018

Banks’ Non-performing facilities (NPFs) decreased by Euros 24 million in July 2018 to Euros 16.61 billion from Euros 16.63 billion in the previous month, according to figures released on Wednesday by the Central Bank of Cyprus.

The percentage of facilities classified as non-performing stood at 40.4% of the total facilities at the end of July 2018 compared with 40.3% in the previous month. Since the end of 2017, NPFs have fallen by Euros 3.96 billion.

Out of the total of NPFs, Euros 9.25 billion were restructured of which Euros 6.42 billion are still classified as NPFs compared to Euros 6.44 billion in the previous month.

Total facilities with over 90 days delay amounted to Euros 12.98 billion at the end of July 2018, compared to Euros 12.96 billion in June 2018 or 31.5% of total facilities.

In addition, total facilities dropped to Euros 41.15 billion at the end of July 2018 from Euros 41.28 billion in June 2018. Since the end of December 2017 total facilities decreased by Euros 5.92 billion.

Cumulative bank provisions stood at 48.1% (Euros 7.99 billion) compared to 48.3% (Euros 8.03 billion) in June 2018 and 46.8% at the end of 2017.

Source: Cyprus News Agency