NPLs mark no significant change in November 2021

Total non-performing loans (NPLs) in Cyprus banking sector marked no significant change in November 2021, reaching € 4.24 billion from € 4.26 billion the previous month, according to data released on Friday by the Central Bank of Cyprus.

Loans with amounts past due more than 90 days, which are classified as non-performing, showed a small increased for the second consecutive month and amounted to € 3.30 billion in November from € 3.28 billion in the previous month.

Since the end of 2020, NPLs showed a decrease of € 0.84 billion, mainly reflecting the sales of bad loans by the Bank of Cyprus.
 
As a percentage of total loans, NPLs stood at 15.1% from 15.3% in the previous month, while the percentage of net NPLs in total loans remained unchanged at 11.8%.
 
According to CBC, corporate NPLs remained unchanged at € 1.76 billion in November, while bad household loans fell slightly to € 2.17 billion from € 2.18 billion last month.
 
Household NPLs were 51% of total NPLs, while corporate NPLs 41.5%. Moreover, the coverage rate of corporate NPLs amounted to 57.2%, while the coverage rate of NPLs of households amounted to 41%.
 
Total accumulated impairment provisions amounted to € 2.19 billion in November from € 2.14 billion in the previous month, of which € 2 billion related to NPLs, with the coverage ratio amounting to 47.7% from 46. 5% last month. 
 
 Total loans in November 2021 amounted to € 28 billion from € 27.9 billion in the previous month.