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NPEs remained virtually unchanged in August

12/12/2018 09:35

Non-performing exposures (NPEs) in the Cypriot banking system remained virtually unchanged in August, declining by just €15 million, compared to July, to €16.59 billion, corresponding to 40.4% of total loans.
 
According to data by the Central Bank of Cyprus, compared with August 2017, NPEs (according to the definition of the European Banking Authority) declined by €5.3 billion, including the securitization of a NPE portfolio amounting to €2.7 billion and the transfer of an NPE package by Alpha Bank amounting to €0.4 billion.
 
Total non-performing loans (90 days past due definition) in August amounted to €12.96 billion compared with €12.98 billion the previous month.
 
Total provisions amounted to 47.9% of NPEs compared with 48.1% the month before amounting to €7.95 billion compared with €7.99 billion in July.
 
According to the CBC, restructured loans declined to €9.21 billion, while restructured loans that continue to be classified as NPEs increased marginally to €6.43 billion.
 
The majority of NPEs, namely 61.5% or €10.2 billion were household loans, while corporate NPEs amounted to 36.7% of total loans, corresponding to €6.10 billion. A total of €5.17 billion were NPEs from small and medium enterprises, the CBC added.
 
Total loans in August amounted to €41.08 billion marking a reduction of €0.11 billion compared with July. Corporate loans amounted to €15.5 billion, of which €11.49 to SMEs, while household loans amounted to €14.9 billion.