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NPLs rose slightly in January

Non-performing loans (NPLs) rose by €12.8m in January compared with December 2022, reaching €2.32b or 9.5% of total loans, according to data released by the Central Bank of Cyprus (CBC).

Total loans in January amounted to €24.3b, down from €24.36b the previous month. Provisions against NPLs amounted to 47.2% in January 2023.

Loans with amounts due over 90 days amounted to €1.84b, corresponding to 7.6% of total loans compared with €1.83b the previous month (7.6%).

Total restructured loans amounted to €2.71b (€2.73b in December 2022), whereas restructured facilities which continued to be classified as non-performing totalled €1b.

Of total NPLs, the majority belonged to households with €1.29b, while NPEs held by non-financial corporations amounted to €969m, of which €835m belonged to small and medium-sized enterprises. The coverage ratio for corporate NPLs amounted to 63.2% while provisions for household NPLs stood at 34.5%.

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