Non-performing loans (NPLs) in the Cyprus banking system in April amounted to pound 2.19 billion with the ratio of NPLs to total loans remaining steady at 9%, according to data released by the Central Bank of Cyprus (CBC).
NPLS in April amounted to pound 2.19 billion compared with pound 2.20 billion the previous month, whereas the amount of total loans in April declined to pound 24.33 billion from pound 24.43 billion in the previous month.
Total loans in arrears for over 90 days in April remained unchanged to pound 1.73 billion and amounted to 7.1% of total loans, the CBC added.
According to the CBC, total restructured facilities declined marginally to pound 2.37 billion from pound 2.43 billion the month before, while restructured loans amounting to pound 0.98 billion continued to be classified as non-performing, from pound 0.99 billion in March.
Total provisions taken by banks, rose to pound 1.08 billion in April from pound 1.07 billion the month before and accounted for 49.4% of total NPLs from pound 48.8% in the previous month.
According to the CBC, 56% of total NPLs or pound 1.23 billion were held by households, while pound 0.92 billion were held by non-financial corporations.
The majority of restructured loans amounting to pound 1.57 billion were held by non-financial corporations whereas restructured facilities of households amounted to pound 0.73 billion.
Total provisions for corporate NPLs amounted to 64.1% whereas provisions for household NPLs stood at 37.3% in April, the CBC added.
Source: Cyprus News Agency