The reduction in non-performing loans in July was mainly on a €65.3m monthly decline in delinquent loans of corporation to €10.1bn accompanied by a €19.4m drop in the case of households to €11.8bn, the central bank said in a statement on its website. The drop was partly offset by €27.2m increase in the case of other financial corporations to €455m.

Exposures with more than 90 days in arrears rose by €51,4m to €17.2bn in July in a month, the central bank said. The amount of restructured facilities dropped by €129.7m in a month to €12.7bn. The amount of restructured loans which are being serviced also fell by €56.3m to €8.9bn.

Total provisions for loan impairments rose in July by €4m to €10.5bn, it added.

On October 30, Central Bank of Cyprus governor Chrystalla Georghadji said that delinquent loans in the Cypriot banking system stood “currently” at €21.9bn or 44% of the total.

Source: Cyprus Mail