NPLs in the Cyprus banking system decline below €9 billion
Non-performing loans (NPLs) in the Cypriot banking system declined to €8.97 billion in the end of 2019, with the NPL rate amounting to 27.9% of total loans.
According to data released by the Central Bank of Cyprus (CBC) NPLs in end-December 2019 marked a reduction of €561 million compared with end-September 2019 or 5.9%. Furthermore, the coverage ratio rose slightly to 53.5% from 52.4% in the end of September.
Moreover, since the end of 2014, NPLs in the Cyprus banking system marked a reduction of €18.4 billion or 67.2%, according to CBC data.
According to the CBC, total restructured loans at end-December 2019 amounted to €5.45 billion, of which €4 billion continue to be classified as non-performing, partly due to the definition of the European Banking Authority.
A net reduction in restructured facilities of €418 million has
(CNA)
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According to data released by the Central Bank of Cyprus (CBC) NPLs in end-December 2019 marked a reduction of €561 million compared with end-September 2019 or 5.9%. Furthermore, the coverage ratio rose slightly to 53.5% from 52.4% in the end of September.
Moreover, since the end of 2014, NPLs in the Cyprus banking system marked a reduction of €18.4 billion or 67.2%, according to CBC data.
According to the CBC, total restructured loans at end-December 2019 amounted to €5.45 billion, of which €4 billion continue to be classified as non-performing, partly due to the definition of the European Banking Authority.
A net reduction in restructured facilities of €418 million has
(CNA)
*The full text of the news item is available in the paid version of the CNA web service. Subscription Form
*CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.
from Cyprus News Agency
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