The Number of Problem Loans Increased in Cyprus

На Кипре увеличилось число проблемных кредитов
29 April 2021 DOM LiVE
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The volume of non-performing loans in Cyprus increased again in January 2021, according to new data from the Central Bank.

The main reason is interest capitalization at the end of 2020.

Non-performing loans in the Cypriot banking system in the first month of the new year increased by €22.1 million. The total volume increased to €5.133 million, compared with €5,111 million at the end of December 2020.

The amount of overdue loans to households in January 2021 was €2.766 million, compared with €2.752 million in December 2020. The amount of overdue loans to small and medium-sized businesses in January 2021 reached €2.142 million, compared with €2.129 million in the previous month.

The total amount of loans issued at the end of January 2021 was €28.925 million, compared to €28.892 million at the end of December 2020.

На Кипре увеличилось число проблемных кредитов

The share of non-performing loans in total loans increased to 17.7% in the first month of 2021 compared to December 2020.

Coverage ratio of MES forecasts at the end of January amounted to 46.1% against 45.9% at the end of December. The liquidity coverage ratio (LCR) of Cypriot banks at the end of January was 46.1% against 45.9% at the end of December.

The total amount of loans restructured by the end of January amounted to €3.403 million, of which €2.332 million is still included in non-performing loans.

As a reminder, in accordance with the directive of the European Banking Authority, problem loans include restructured loans, which are considered as non-performing loans for at least one year.

Source: stockwatch.com.cy
Photos: pixabay.com
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