Cyprus Business Now

Total non-performing loans (NPLs) decreased by €32 million at the end of October 2021, compared to the previous month, when total loans increased by €14 million to € 27.91 billion.

According to data released on Wednesday by the Central Bank of Cyprus, total NPLs decreased on October 31, 2021, to €4.25 billion, €0.4 billion down from the figure of €4.29 billion at the end of September of the same year. The amount stood at €5.11 billion at the end of 2020.

As a result, the ratio of non-performing loans to total loans decreased at the end of October 2021 to 15.3 per cent, 0.1 per cent down from the previous month.

The coverage ratio rose to 46.5 per cent at the end of October 2021. The ratio stood at 45.7 per cent at the end of September 2021.

Total loans restructured came up to €3.94 billion, of which €2.05 million are still included in the non-performing loan category.

The Cyprus Shipping Chamber (CSC) announced on Wednesday that it is celebrating the 33rd anniversary of its creation and the start of its “storied contribution to the Cypriot economy and society”.

The chamber was founded on January 26, 1989, acting as the primary trade association of the Cypriot shipping industry.

In its 33 year history, the chamber has promoted and safeguarded the interests of its shipping company members and the local industry.

The CSC had 17 founding members but has now grown to 200 member companies, expanding its scope and activities along the way.

“Through its multifaceted work and the strong representation of the Cypriot shipping industry in international shipping bodies, such as the International Chamber of Shipping (ICS) and the Union of European Shipowners (Associations), the chamber moves forward for a sustainable and even more competitive Cypriot shipping industry for the benefit of its member companies and the Cypriot economy,” the chamber said in a statement.

The Cyprus Stock Exchange (CSE) ended Wednesday, January 26 with profits.

The main Cyprus Stock Market Index was at 69.59 points at 13:09 during the day, reflecting a rise of 1.12 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 41.75 points, which represents an increase of 1.16 per cent.

The total value of transactions came up to €81,555.67.

In terms of the sub-indexes, the main index rose by 1.52 per cent, while the alternative index by 0.41 per cent. The hotel and investment firm indexes remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (+1.83 per cent), KEO Plc (no change), Louis Plc (-0.61 per cent), Atlantic Insurance (+4.6 per cent) and Hellenic Bank (+3.46 per cent).