NPLs in the banking system stood at €5.134 billion in May from € 5.141 billion in April, showing a decrease of approximately €7 million.

However, the non-performing loans remained at 18.1% of total loans and the total accumulated impairment (provisions) increasing to 47.6%.

At the end of 2020, NPLs were estimated at €5.111 billion (17.7% of total loans), down from €8.972 billion (27.9%) in 2019.

According to the Central Bank, total loans at the end of May were €28.419 billion, from €28.445 billion in the previous month, while total loans due over 90 days were €3.956 billion or 13.9%, compared to €3.921 billion in April.

Total restructured loans amount to €3.833 billion, €2.311 billion continue to be classified as non-performing loans.

In addition, total accumulated provisions were estimated to be €2.618 billion or 47.6%, up from €2.598 billion or 47.2% in April.

The aggregate consolidated financial data for the Cyprus banking sector are compiled quarterly.

Source: Financial Mirror