The downward trend of non-performing loans (NPLs) in Cyprus continued in August 2024, with an additional €15 million decrease.
According to a report released on Tuesday from the Central Bank of Cyprus (CBC), this brings the NPL total to €1.63 billion, down from €1.65 billion in July.
Total loans across the Cypriot banking system reached €24.05 billion by the end of August, slightly down from €24.13 billion in July.
The NPL ratio held steady at 6.8 per cent for the second consecutive month.
Loans overdue by more than 90 days totalled €1.29 billion in August, equating to 5.4 per cent of total loans, a figure that remained unchanged from the previous month.
Coverage of NPLs with accumulated provisions stood at 55.3 per cent, totalling €990 million, marking a slight increase from 55.2 per cent at the end of July.
Restructured loans rose to €1.36 billion in August, up from €1.32 billion in July.
Of these, €713 million continue to be classified as NPLs.
Household NPLs reached €916 million in August, representing 8.7 per cent of total household loans, with accumulated provisions for these loans at 40.6 per cent (€393 million).
Total household loans amounted to €10.53 billion.
Corporate NPLs stood at €682 million, accounting for 5.7 per cent of total loans, of which €606 million related to small and medium-sized enterprises.
Total provisions for corporate NPLs were recorded at 73.5 per cent.
Finally, the corporate loan total reached €11.98 billion by the end of August.
