NPLs drop by €48.4m to €23.2bn, CBC says

5

By Stelios Orphanides

The level of non-performing loans dropped on a monthly basis in April by €48.4m, to below €23.2bn, or 46.1 per cent of the total, on a decline in corporate bad loans, the Central Bank of Cyprus said.

Non-performing loans extended to non-financial corporations dropped in April by €57.1m, to €10.7bn, the central bank said in a statement on its website on Friday. The figure includes a €58.5m drop in delinquent loans of small and medium size enterprises to €9.3bn.

Household non-performing loans rose by €6.9m, to €12bn in April, the supervisory authority said. In the case of other financial corporations, non-performing loans rose by €2m, to €452m.

The total amount of loans in arrears for more than 90 days rose in April by €423.1m, to €17.8bn. This was mainly due to a €315.3m increase in the 90 days-past-due loans of non-financial companies.

The amount of restructured loans dropped by €66.7m, to below €13bn, mainly on a €55.1m drop in loans of non-financial corporations, to €6.6bn, the bank supervisor said. The amount of restructured loans regularly serviced dropped by €50.5m to €9.2bn giving a cure ratio of almost 771 per cent.

Total provisions dropped by €39.7m, to €9.9bn, in April compared to March, the central bank said.

Share.

About Author

Stelios Orphanides is a journalist at CyprusBusinessMail.com. To contact Stelios Orphanides: [email protected]

  • SuzieQ

    Still a long, long way to go.

    • Terryw45

      ‘Household non-performing loans rose by €6.9m, to €12bn’… divided by population, is about €13.5k…each!

      • SuzieQ

        Wow!

  • Kevin Ingham

    Since the last economic crash we have seen all sorts unsustainable statistics being portrayed as “viable” to save the Euro.The old bench mark of GDP to National Debt ratio was 40%- we now see 180% being portrayed as sustainable !!!!

    An NPL rate of 46.1% is ludicrously unmanageable- most solvent banking systems have an NPL ratio of less than 4%.

    Italy is a complete basket case with 17.1% of total loans in the NPL category – how can anyone look at a banking system with such levels as 46.1% and think any sort of long term economic progress is possible is a mystery to me

    • Terryw45

      You need this VR headset that the government is giving away free to potential voters.