According to figures released recently by the Central Bank, the NPEs ratio to total loans remained at 31.8% as in September 2018, following the significant decline in the third quarter of 2018 due to the removal of €7bn of Cyprus Cooperative Bank`s NPEs from the banking system.

Total loans with amounts less than 90 days late reached 23.7% compared with 23.6% in September.

Total accumulated impairment provisions were 51.8% compared to 51.9% in September.

However, despite the fact that the ratio remained unchanged, both NPEs and loans with an amount due of less than 90 days late increased compared with September.

NPEs increased by €87 million to €11.11 billion compared to €11.02 billion in September, while loans with amounts less than 90 days late rose to €8.3 billion compared with €8.2 billion.

Total accumulated impairment provisions amounted to €5.75 billion compared to €5.71 billion in September.

Source: Cyprus Mail