Almost €1.34 billion in loan instalments suspended by June 19

Suspended credit facilities at the request of borrowers on June 19 amounted to €1.34 billion increased from €1.31 billion  on June 5, according to data released Thursday by the Central Bank of Cyprus (CBC).

Under the emergency measures announced by Government to control the spread of COVID-19 in Cyprus, borrowers could apply for suspension of instalments and interest on their credit facilities.

Gross carrying amount of the suspended loans amounted to € 11.75 billion on June 19, from €11.44 billion on June 5, of which € 7.07 billion were related to business loans and the remaining € 4.67 billion concerned household loans.

In particular, according to the data concerning loans with less than 30 days of arrears in both licensed credit institutions and credit acquisition companies, from the total amount of suspended instalments, €929.5 million related to business loans and €408.2 million to household loans.

In addition, a total of 50,586 borrowers applied for a loan suspension, of which 44,428 were households and 6,158 businesses.

The largest amount of corporate loans for which a suspension of instalments was requested concerned the hospitality and catering sector with a gross value of €1.75 billion and 728 borrowers. The suspended loans requested for real estate business amounted to € 1.31 billion (692 borrowers), for construction € 1.19 billion (628 borrowers) and for wholesale and retail trade €1.15 billion (1,770 borrowers).