Cypriot NPLs unchanged in November

Cypriot NPLs unchanged in November

Total nonperforming loans (NPLs) in Cyprus’ banking sector saw no significant change in November 2021, reaching 4.24 billion euros from €4.26 billion the previous month, according to data released on Friday by the Central Bank of Cyprus.

Loans due more than 90 days, classified as NPLs, showed a small increase for the second consecutive month and amounted to €3.3 billion in November from €3.28 billion in the previous month.

Since the end of 2020, NPLs showed a decrease of €840 million, mainly reflecting the sales of bad loans by the Bank of Cyprus.

Total loans in November amounted to €28 billion from €27.9 billion in the previous month. As a percentage of all loans, NPLs stood at 15.1% from 15.3% in the previous month, while the percentage of net NPLs in total loans remained unchanged at 11.8%.

Corporate NPLs remained unchanged at €1.76 billion in November, while bad household loans fell slightly to €2.17 billion from €2.18 billion last month. Household NPLs were 51% of all NPLs, while corporate NPLs came to 41.5%. The coverage rate of corporate NPLs amounted to 57.2%, while that of household NPLs amounted to 41%.