NPEs in the Cyprus banking system record slight increase in January

Non-performing exposures (NPEs) recorded a slight increase in January over the previous month, attributed to the end-of year capitalised interest.

According to data released by the Central Bank of Cyprus (CBC) NPEs in January amounted to €8.98 billion compared with €8.98 billion in December 2019. NPEs to total loans remained unchanged to 27.9%, the CBC said.

Loans with 90 days past due amounts reached €7.47 billion compared with €7.42 billion in the previous month.

Total loans in January 2020 amounted to €32.13 billion compared to €32.12 in the previous month.

According to the CBC, total restructured facilities declined in January to €5.32 billion compared to €5.45 billion in the previous month. Of the total restructured facilities, loans amounting to €4.0 billion continues to be classified as non-performing according to the European Banking Authority’s directives.

Total accumulated provisions amounted to €4.92 billion or 53.5% from €4.94 billion in December 2019.

According to the CBC of the total NPEs in January 2020, 52% or €4.64 billion came from household delinquent borrowers and 44% or €3.96 were corporate.

Source: In-Cyprus