NPEs in the Cypriot banking system decline by €30 million in August

Non-performing exposures (NEPs) in the Cypriot banking system declined by €30 million in August compared with the previous month corresponding to 10.9% of total loans from 11% the month before.


According to data published by the Central Bank of Cyprus, total NPEs in August amounted to €2.82 billion from €2.85 in July.


Total loans declined by €62.5 million amounting to €25.94 billion in August, the CBC added.


Loans in arrears over 90 days (excluding restructured NPLs) dropped below €2 billion in August, marking a reduction of €27.3 million compared with July and amounted to 7.7% of total loans.


According to the CBC, total accumulated provisions stood at €1.45 billion, of which €1.32 billion or 46.7% of NPEs.


Total restructured facilities declined by €20 million to €3.24 billion in August, of which €1.40 billion continues to be classified as non-performing.


Of the total NPEs, €1.4 billion or 50% of total NPEs were held by households, while corporate NPEs amounted to €1.09 billion or 39% of total NPEs of which €0.9 billion concerned small and medium enterprises, CBC data show.


Source: Cyprus News Agency