BANKING: Cyprus Non-performing facilities decline by EUR 24 million in July

Banks’ Non-performing facilities (NPFs) decreased by €24 million in July 2018 to €16.61 bln from €16.63 bln in the previous month, according to figures released by the Central Bank of Cyprus.

The percentage of facilities classified as non-performing stood at 40.4% of the total facilities at the end of July compared with 40.3% in the previous month. Since the end of 2017, NPFs have fallen by € 3.96 bln.

Out of the total of NPFs, €9.25 bln were restructured of which €6.42 bln are still classified as NPFs compared to €6.44 bln in the previous month.

Total facilities with over 90 days delay amounted to €12.98 bln at the end of July from €12.96 bln in June or 31.5% of total facilities.

In addition, total facilities dropped to €41.15 bln at the end of July from € 41.28 bln in June 2018. Since the end of December 2017 total facilities decreased by € 5.92 bln.

Cumulative bank provisions stood at 48.1% (€ 7.99 bln) compared to 48.3% (€ 8.03 bln) in June and 46.8% at the end of 2017.