Economy category powered by

NPLs down by €15 million in August, CBC data show

The steady downward trend of Non Performing Loans (NPLs) in the Cypriot banking system continued in August, showing a further decrease of €15 million to €1.63 billion (from €1.65 billion in July), according to data released by the Central Bank of Cyprus (CBC).

Total loans stood at €24.05 billion at the end of August 2024, up from €24.13 billion in July, while the share of NPLs in total loans remained at 6.8%, the same as in the previous month.

According to CBC data, total loans with amounts past due for more than 90 days stood at €1.29 billion or 5.4% of total loans in August 2024, unchanged from the previous month.

The NPLs coverage ratio stood at 55.3% (€990 million) at the end of August, compared to 55.2% at the end of July 2024.

Moreover, total restructured loans amounted to €1.36 billion, compared to €1.32 billion in July 2024, of which €713 million continue to be classified as NPLs.

Household NPLs stood at €916 million in August 2024, representing 8.7% of total loans, with a cover ratio of 40.6% (€393 million). Total household loans amounted to €10.53 billion.

Non-financial corporations NPLs amounted to €682 million in August 2024 or 5.7% of total lending, of which €606 million are NPLs of SMEs. Total accumulated provisions for corporate NPLs stand at 73.5%. Corporate loans stood at €11.98 billion at the end of August 2024.

(Source: CNA)

Read More

Makis Kervanos: Sanctions Unit will strengthen financial system protection
Trade deficit up 2.3% in first five months of 2025
Step-by-step: The Foreign Direct Investment screening procedure
Chief Scientist strengthens Cyprus’ innovation standing as regional gateway to Europe during UAE visit
Deputy Shipping Minister promotes Cyprus bid for IMO in London visit
Water from desalination plants in Moni on 22 July
Sklavenitis Cyprus honoured with Invest Cyprus International Investment Award
Marfields Group receives Invest Cyprus International Investment Award
"There is no limit to what we can achieve together," President Christodoulides tells international investors
Eurobank S.A. among top honourees at 13th Invest Cyprus International Investment Awards