Source: CNA
Non-performing loans (NPLs) rose by €12.8 million in January 2023 compared with December 2022, amounting to €2.32 billion or 9.5% of total loans.
According to data released by the Central Bank of Cyprus (CBC), total loans in January 2023 amounted to €24.3 billion, down by €24.36 billion in December 2022.
Provisions against NPLs amounted to 47.2% in January 2023.
Loans with amounts due over 90 days amounted to €1.84 billion, corresponding to 7.6% of total loans compared with €1.83 billion in the previous month (7.6%).
According to the CBC, total restructured loans in January 2023 amounted to €2.71 billion compared with €2.73 billion in December 2022, whereas restructured facilities which continued to be classified as non-performing amounted to €1 billion.
Of the total NPLs, the majority were held by households with €1.29 billion, while NPEs held by non-financial corporations amounted to €969 million, of which €835 belong to small and medium-sized corporations. The coverage ratio for corporate NPLs amounted to 63.2% whereas provisions for household NPLs stood at 34.5%, the CBC said.
