Non-performing loans (NPLs) in the Cyprus banking system rose marginally in January 2021, pushed upwards by interest capitalization at the end of the year.
According to data released by the Central Bank of Cyprus (CBC), NPLs, as defined by the EBA, amounted to €5.13 billion in January 2021, from €5.11 billion in end-2020, with the NPL to total loans ratio remaining unchanged at 17.7%.
In January loan repayment began after the nine-month payment holiday affecting €11.7 billion ended in December 2020, while a new moratorium covers a much smaller amount of loans.
Loan in arrears over 90 days (excluding restructured loans) also rose marginally to €3.95 billion from €3.94 billion in December 2020, the CBC said.
Total accumulated provisions in the banking system amounted to €2.55 billion in January 2021, of which €2.37 billion cov
Source: Cyprus News Agency