Cyprus Mail
Business

NPLs drop to €26.7bn in December, lowest value in a year, central bank says

The amount of non-performing loans in the Cypriot banking system slumped by €703.1m in December compared to November to €26.7bn, the lowest value since December 2014, the Central Bank of Cyprus said.

The extensive drop in non-performing loans in December, the second largest since May, resulted mainly from a reduction of bad loans of small and medium size enterprises by €317.9m in a month to €9bn, the Central Bank of Cyprus said in a statement on its website on Thursday. Overall corporate non-performing loans fell by €508.7m to below €13.3bn. The non-performing loans of households fell by €96.1m to €12.7bn in December compared to the month before.

The ratio of non-performing loans as a percentage of the banks’ total loan portfolio fell to 45.8 per cent, also the lowest since December 2014, the central bank said. In November, the bad loan ratio was 46.1 per cent, compared to 47.8 per cent in December 2014.

In December 2015, overall non-performing exposures fell by €642.8m compared to December 2014, when the supervisory authority introduced a new methodology to determine non-performing loans.

The amount of loans with more than 90 days in arrears, dropped in a moth by €1bn to €21bn in December 2015, which is also the lowest value since December 2014, the central bank said. The value of restructured facilities rose to below €14.2bn by €117.2m in December last year compared to November.

Total provisions in the banking system rose by €676.1m to €10bn in December compared to November and by more than €1bn compared to the last month of 2014, the central bank said.



Related posts

Russia’s Nord Stream 2 to resume pipe-laying in Germany’s Exclusive Economic Zone

Reuters News Service

AstraZeneca’s vaccine praised by Serum Institute — world’s largest vaccine producer

Reuters News Service

Pound faces ‘chaos’ next year – analyst

Reuters News Service

Why even smart people fall for phishing

Andrew Rosenbaum

Europe’s ski resorts face dilemma: To open or not to open?

Reuters News Service

Health companies tap elderberry to beat COVID-19 blues

Reuters News Service