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24 September, 2023
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Non-performing loans in Cyprus rise to €2.32 billion in January 2023

Provisions against NPLs reach 47.2% as majority of NPLs held by households

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.

Cyprus  |  banks  |  economy

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