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Non-performing exposures rise slightly in April

26/07/2021 12:35

Non-performing exposures (NPEs) rose slightly in April pushed upwards by increased restructurings data released by the Central Bank of Cyprus show.

According to the data released yesterday, NPEs in April amounted to €5.14 billion compared with €5.13 billion in the previous month. The ratio of NPE to total loans rose to 18.1% in April from 17.9% the previous month, while total loans declined to €28.44 in April from €28.63 billion in March.

Loans in arrears over 90 days, that is pure NPEs excluding restructured facilities that under the EBA directive continue to be classified as non-performing for at least a year, declined to €3.92 billion in April from €4.0 the month before.

Total restructured facilities rose to €2.32 billion in April from €2.22 billion the previous month and €2.23 in end-2020, indicating the increased restructuring in the banking sector after the termination of the payment holiday in the end of 2020 due to the Covid-19 pandemic.

According to the CBC total provisions in the end of April amounted to €2.6 billion of which €2.43 associated with NPES, remaining broadly stable compared with the previous month.

Of the total €5.13 billion NPES in April, €2.75 billion were held by households and €2.18 bill were corporate NPEs, the CBC said.