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The non-performing loans rate in the Cyprus banking sector declined to 11.3% of total loans in the end of February 2022 compared with 11.7% in the end of the previous month, data released by the Central Bank of Cyprus (CBC) on Monday show.
NPLs, as defined by the European Banking Authority, in February 2022 declined to €2.9 billion, from €3 billion in January 2022.
The loan coverage ratio rose to 45.3% from 43.6% in the previous month, the CBC added.
Furthermore, total loans in February increased to €25.66 billion from €28.69 billion in the previous month.
Of the total NPLs in February, €1.56 billion were held by households and €1.17 billion belonged to corporates.