Corporate non-performing loans decreased in May by €106.1m to below €10.6bn mainly on a reduction of delinquent loans extended to small and medium size enterprises by €83.5m to €9.2bn, the central bank said in a statement on its website on Friday. Household non-performing loans fell by €26.8m to below €12bn.

In May, 90 days past due loans rose by €3.6m to €17.8bn mainly on a €75.5m increase in household loans in arrears and together with a €10.5m increase in the case of other financial corporations to €391.44m, the offset a €82.4m reduction to €88bn in the case of corporations, the central bank said.

The overall amount of restructured facilities in May fell by €52.3m to €12.9m mainly on a €25.5m reduction in the case of households followed by €15.1m drop in the case of companies, the bank supervisor said. The amount of restructured loans being serviced fell by €54.5m to €9.1bn mainly on a €35.8m drop in the case of non-financial corporations and €13.2m in the case of households.

The overall cure ratio of restructured loans was 70% in May, the central bank said. In the case of companies, it was also 70% and in the case of households 72%.

Total provisions fell by €58.9m to €9.8bn, in the fifth month of the year, the central bank said.

Source: Cyprus Mail