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.