Cyprus Mail
Cyprus

NPEs increase by €87 million in October

Non-performing exposures (NPEs) in Cyprus banks recorded an increase of €87 million in October 2018 compared with September 2018, despite the fact that they remained unchanged as a ratio to total loans.

According to figures released Tuesday by the Central Bank, the NPEs ratio to total loans remained at 31.8 per cent as in September 2018, following the significant decline in the third quarter of 2018 due to the removal of €7bn of Cyprus Cooperative Bank`s NPEs from the banking system.

Total loans with amounts less than 90 days late reached 23.7 per cent compared with 23.6 per cent in September.

Total accumulated impairment provisions were 51.8 per cent compared to 51.9 per cent in September.

However, despite the fact that the ratio remained unchanged, both NPEs and loans with an amount due of less than 90 days late increased compared with September.

NPEs increased by €87 million to €11.11 billion compared to €11.02 billion in September, while loans with amounts less than 90 days late rose to €8.3 billion compared with €8.2 billion.

Total accumulated impairment provisions amounted to €5.75 billion compared to €5.71 billion in September.

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