NPLs in Cyprus banking system unchanged at 27.7%

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Non-performing loans (NPLs) rose marginally to €32.3 bln in April accounting for 27.7% of all loans in the banking system, according to data released by the Central Bank of Cyprus.

According to the CBC data, NPLs in April rose to €8.95 bln from €8.92 bln in the previous month.

The European Banking Authority (EBA) says NPLs include restructured facilities which are considered as NPLs at least for a one year “cure period”.

As a percentage of total loans, NPLs remained unchanged at 27.7% in April due to a negligible increase in total loans to €32.3 bln from €32.2 bln in the previous month.

Loans in arrears over 90 days (90 DPD), which do not include restructured facilities, rose for a fourth consecutive month in April to €7.62 bln from €7.56 bln the previous month, reaching 23.6% of total loans.

Total accumulated provisions in April rose to €5.11 bln from €5.01 bln in the previous month, amounting to 55.2% of total NPLs.

Household NPLS amounted to €4.26 bln while corporate NPLs stood at €3.96 bln, of which €3.46 bln concerned small and medium-sized enterprises (SMEs).

Accumulated provisions for household NPLs amounted to 47.2% with the respective provisions for corporate NPLs amounting to 62%.

Bank provisions for NPLs for SMEs amounted to 62.5% in April, the CBC said.