Cyprus NPLs ease a tad in November

Cyprus NPLs ease a tad in November

Nonperforming loans in the Cyprus banking system remained virtually unchanged in November, with the NPL rate to total loans unchanged at 10.5%.

According to data published by the Central Bank of Cyprus, total NPLs in November amounted to 2.68 billion euros, marginally lower than the €2.7 billion in the previous month.

Total accumulated provisions for NPLs in November amounted to 47.4%, compared with 47.3% the month before.

Total loans in arrears over 90 days in Cyprus were €2.03 billion, amounting to 7.9% of total loans in the credit system, and were practically unchanged compared with the previous month. Total restructured facilities in November amounted to €3.07 billion compared with €3.09 billion the month before, of which €1.28 billion continued to be classified as nonperforming.

NPLs held by households in November reached €1.33 billion, compared with €1.35 billion in October, and accounted for 50% of total NPLs with accumulated provisions amounting to 33.6%. Corporate NPLs amounted to €1.04 billion compared with €1.03 billion in October 2022, with total provisions amounting to 64%, the CBC said.

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