NPEs increase by Euros 87 million in October

Non-performing exposures (NPEs) in Cyprus banks recorded an increase of Euros 87 million in October 2018 compared to September 2018, despite the fact that they remained unchanged as a ratio to total loans.

According to figures released Tuesday by the Central Bank of Cyprus, the NPEs ratio to total loans remained at 31.8% as in September 2018, following the significant decline in the third quarter of 2018 due to the removal of Euros 7bn of Cyprus Cooperative Banks NPEs from the banking system.

Total loans with amounts less than 90 days late reached 23.7% compared to 23.6% in September.

Total accumulated impairment provisions were 51.8% compared to 51.9% in September.

However, despite the fact that the ratio remained unchanged, both NPEs and loans with amount less than 90 days late increased compared with September.

NPEs increased by Euros 87 million to Euros 11.11 billion compared to Euros 11.02 billion in September, while loans with amounts less than 90 days late to Euros 8.3 billion compared to Euros 8.2 billion.

Total accumulated impairment provisions amounted to Euros 5.75 billion compared to Euros 5.71 billion in September.

Source: Cyprus News Agency