Non-performing loans (under the EBA directive) in the Cypriot banking sector declined marginally to pound 1.65 billion in July from pound 1.67 billion in the previous month, corresponding to 6.8% of total loans.
Total loans in July rose marginally to pound 24.14 billion from 24.12 billion.
According to data released by the Central Bank of Cyprus (CBC), loans with amounts due over 90 days, (not-including restructured facilities) remained unchanged to pound 1.3 billion.
Provision coverage ratio in July amounted to 55.2% of total non-performing loans with accumulated provisions covering NPLs amounting to pound 0.91 billion.
According to the CBC, total restructured loans in July declined to pound 1.33 billion from pound 1.36 billion the month before. Of these facilities, pound 0.72 billion continued to be classified as non-performing under the EBA directive, from pound 0.74 billion in June.
Corporate NPLs in July amounted to pound 696 million of 5.8% of total loans, of which pound 620 million held by small
and medium-sized enterprises, whereas NPLs held by households amounted to pound 917 million or 8.7% of total loans. The provision coverage ratio for corporate NPLS amounted to 73% while the coverage ratio for household NPLs stood at 40.5%
Source: Cyprus News Agency