CYPRUS: Non-performing loans increase for second month to EUR 8.05 bln

Non-performing loans (NPLs) rose for a second consecutive month in May amounting to €8.05 bln with non-performing exposures (NPEs) dropping by €11 mln to €10.13 bln, or some 30.8% of total loans.

NPLs, loans in arrears over 90 days. rose in May to €8.05 bln from €7.98 bln the previous month, marking the second consecutive increase, as NPLs in April rose by €71 mln compared to March, according to Central Bank of Cyprus data.

Loans in arrears over 90 days shows the net flow of NPLs as it does not include restructured loans, compared to NPEs which include restructured facilities that remain as non-performing for a period of one year.

NPEs in May reached €10.13 bln marking a minor reduction of €11 mln from the previous month.

Restructured facilities at the end of May amounted to €6.39 bln, of which €4.58 bln were restructured facilities that continue to be considered as non-performing.

Accumulated impairments in May amounted to €5.29 bln or 52.2% of total NPEs.

From the total of NPEs, €5.14 bln were bad loans belonging to households and €4.67 bln were corporate NPEs, of which €4.0 bln belonged to small and medium-sized enterprises.