NPLs increase in March according to Central Bank of Cyprus

Loans at commercial banks reached 41,76% in March or 20.02 billion euros compared to 41.34% or 20.19 billion euros in February 2014.
Therefore NPLs increased as a percentage of the total loans, but dropped in numbers due to deleveraging.

NPLs reached 50.7% of total loans in the Cooperative, amounting to 6.75 billion euros, compared to 6.37% (47.77%) in February.
As regards banks, loans to businesses reached 30.42 billion euros, of which 45.71% or 13.9 billion euros are Non Performing Loans.
The biggest number of loans concern the constructive sector and reach 7.15 million, of which 68.28% (67.71% in February) were NPLs.
Loans to individuals and households were slightly reduced to 14.06 billion euros, of which 43.48% or 6.11 billion euros were NPLs.
Loans for housing or immovable property purchase were up to 9.50 billion euros, of which 3.7 bilion euros or 38.8% were past due by more than 90 days.
As regards the Cooperative credit institutions, loans to businesses reached in March 2.92 billion euros, of which 41.73% or 1.22 billion euros were NPLs.
Credit facilities to individuals and households reached 10.39 billion euros of which 53.25%, compared to 49.86% in February, were NPLs.
As regards consumption loans, the percentage of NPLs reached 61.37% of total loans, which were up to 4.31 billion euros.
Even though loans for immovable property purchase remained at the same levels, the percentage of NPLs rose from 41.7% in February to 45.36% in March.
The percentage of NPLs reached 54.04% of total consumption loans, which were 2.93 billion euros.
According to CBC data, restructured loans in commercial banks reached 13.17% in March or 6.31 billion euros, compared to 11.93% in February.
As regards the Cooperatives, restructured loans reached 4.90% in March or 0.65 billon euros, compared to 1.97% in February.
However restructuring of loans at the Cooperative was delayed due to the process for the merging of Cooperative Credit Institutions.