NPLs steady at 8.3% in November 2023

15:47 - 01 February 2024

Economy

NPLs in Cyprus’ banking system remained steady at 8.3% last November, dropping to just below €2b for the first time, according to the Central Bank of Cyprus.

From a total of €24.17b loans, NPLs were at €1.99b, down from €2.015b in October. NPLs to total loans showed an insignificant decrease from 8.33% in October to 8.27%. NPLs with over 90 days past due were at €1.56b, remaining at 6.5% of total loans, with no change since October.

Total restructured loans were at €1.7b. Of those, €895m continued to be classified as NPLs. Total restructured loans to total loans recorded a decrease to 7.2% from 7.5% in October.

Total accumulated impairment (provisions) in November were at €1.13b, of which €1.02b concerned NPLs. Total accumulated impairment (provisions) to total non-performing loans went up to 51% from 50.8% in October.

Household NPLs were at €1.11b, or 10.5%. A total of €633m loans were restructured, of which €402m continued to be classified as NPLs.

Non-financial corporations' loans were at €841m or 7.1%, out of which €747m belonged to SMEs. A total of €1.04b were restructured, of which €458m continued to be classified as NPLs.

NPLs steady at 8.3% in November 2023

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