NPLs stay at 18% of total bank loans

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The Central Bank of Cyprus published data showing the evolution of aggregate non-performing loans for all credit institutions, with NPLs standing at €5.134 bln in May from €5.141 mln the month before.

NPLs in the banking system stood at €5.134 bln in May from € 5.141 bln in April, showing a decrease of approximately €7 mln.

However, the non-performing loans remained at 18.1% of total loans and the total accumulated impairment (provisions) increasing to 47.6%.

At the end of 2020, NPLs were estimated at €5.111 bln (17.7% of total loans), down from €8.972 bln (27.9%) in 2019.

According to the Central Bank, total loans at the end of May were €28.419 bln, from €28.445 bln in the previous month, while total loans due over 90 days were €3.956 bln or 13.9%, compared to €3.921 bln in April.

Total restructured loans amount to €3.833 bln, €2.311 bln continue to be classified as non-performing loans.

In addition, total accumulated provisions were estimated to be €2.618 bln or 47.6%,  up from €2.598 bln or 47.2% in April.

The aggregate consolidated financial data for the Cyprus banking sector are compiled quarterly.