The leading on-line resource for home buyers & real estate investors -

18th August 2022
Cyprus Property News logo
HomeNon-Performing LoansNPLs remain at 18 per cent of total bank loans

NPLs remain at 18 per cent of total bank loans

Statistics published by the Cyprus Central Bank reveal that non-performing loans (NPLs) in May 2021 accounted for 18.07% of total bank loans; unchanged from April 2021.

According to the Central Bank, NPLs stood at €5.134 billion in May, a fall of approximately €7 million from April’s figure of €5.141 billion as follows:

  • General governments – €218,000.
  • Other financial corporations – €215.7 million.
  • Non-financial corporations – €2.158 billion (of which €1.782 billion by SMEs.)
  • Households – €2.761 billion.

But while the percentage of NPLs remained the same, the total accumulated impairment (provisions) increased to 47.6%.

At the end of 2020, non-performing loans were estimated at €5.111 billion, down from €8.972 billion in 2019.

Total restructured loans amounted to €3.833 billion, of which €2.311 billion continue to be classified as non-performing loans.

In addition, total accumulated impairment (provisions) at the end of May were estimated to be €2.618 billion, up from April’s figure of €2.598 billion.

NPLs the plan

It is anticipated that once the transformation of KEPIDES into a bad bank is completed and its purchase of non-performing loans from the financial institutions gets underway, NPLs will reduce sharply.

RELATED ARTICLES

Top Stories

Sign up to receive our free newsletter

We handle your data responsibly, find more about our privacy policy

Elsewhere in Cyprus Property News

EUR - Euro Member Countries
GBP
1.1830
RUB
0.0162
CNY
0.1448
CHF
1.0281