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Non-performing exposures marginally decline

16/06/2017 09:38
Non-performing exposures (NPEs) in February declined by €31 million to €23.84 billion, according to data released on Thursday by the Central Bank of Cyprus.

Total loans increased to 50.61 billion with NPEs amounting to 47.12% of total loans.

On an annual basis, NPEs declined by €2.92 billion.

However, loan restructurings declined to €13.82 billion in February from €13.44 bl n January. Of the total restructurings, €9.70 bl continue to be classified as non-performing due to the strict European Banking Authority directive, which keeps a restructured loan facility as non-performing for 12 months.

Corporate NPEs in February declined by €10.3 million to €11.20 bl. Total corporate NPE amount to 47% of total NPEs.

Household NPEs declined by €27 million to €12.08 bl in February from €12.11 the previous month. Household NPEs amount to 51% of total NPEs.

Coverage ratio remained unchanged to 41% of total NPEs which corresponds to €9.90 bl, CBC said.