Source: CNA
Non-performing loans (NPLs) at the end of October 2022 amounted to €2.69 billion, showing a decrease of €32 million compared to the previous month.
According to updated data released on Monday by the Central Bank of Cyprus, with a reference date of October 31st, 2022, NPLs to total lending stood at 10.5% at the end of October, compared to 10.6% the previous month. In the same period, total loans fell to €25.66 billion, from €25.83 billion in September 2022.
Moreover, total restructured loans in October 2022 decreased to €3.09 billion, compared to €3.12 billion in the previous month, of which €1.29 billion continue to be classified as NPLs, compared with €1.31 billion in the previous month.
Accumulated impairment (provisions) in October 2022 decreased by €6 million, to €1.40 billion, of which, those concerning NPLs are €1.27 billion. Total accumulative provisions against total NPLs stood at 47.3%, up from 47% in September 2022.
According to the data of the CBC, the NPLs of non-financial corporations fell in October 2022 to €1.03 billion, from €1.04 billion in the previous month, of which €884 million concerned small and medium enterprises.
Total accumulated impairment (provisions) to total non-performing loans was at 65.1% and of small and medium enterprises at 65.5%.
The total NPLs of households decreased by €6 million, to €1.35 billion in October 2022, with the provisions to total NPLs ratio standing at 33%.