The share of non-performing loans on the overall loan portfolio dropped to 48.1% in April, from 48.4% in March, the Central Bank said in a statement on its website on Wednesday. The reduction in bad loans resulted mainly from a €97.8m decline in the un-serviced loans of financial corporations, to €378.4m. Non-performing loans of non-financial companies fell by €70.2m, to below €12.6bn, while those of households rose by €8.9m to under €12.6bn.

Total 90 days past due loans fell by €267.3m, to €19.4bn, which is also the lowest since December 2014, when the supervisor introduced the current methodology, or 36.6% of total loans, the central bank added. Compared to a year ago, overall non-performing loans dropped by €2.2bn while total outstanding loans fell by €6.2bn to €53.1bn. Ninety days past due loans fell by almost €3.5bn.

The amount of restructured facilities dropped by €68.1m in April, to €13.8m, and rose by €851.5m compared to April 2015, the Central Bank said. Accumulated provisions dropped by €43.9m in a month, to €9.5bn, in the fourth month of the year, and rose by €530.6m compared to the respective month of 2015.

Source: Cyprus Mail