Central Bank of Cyprus Calculates NPL for April 2021

Центробанк Кипра подсчитал проблемные кредиты за апрель 2021 года
24 July 2021 DOM LiVE
1345

Non-performing loans, low bank profitability and the indebtedness of the Cypriot non-financial private sector threaten the country's economic sector.

According to the latest data released by the Central Bank of Cyprus on Friday, July 23, in April 2021 the volume of non-performing bank loans (NPLs) in the country rose again to 5.141 million euros, compared with 5.130 million euros in March.

As you may know, 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.

In turn, loans overdue for more than 90 days, which do not include restructured properties, rose to 4 million euros in April 2021, compared to 3.921 million euros in the previous month.

Центробанк Кипра подсчитал проблемные кредиты за апрель 2021 года

The total amount of loans decreased from 28.882 million euros at the end of December 2020 to 28.445 million euros at the end of April 2021.

As a result, the ratio of non-performing loans to total loans increased from 17.7% (data at the end of December 2020) to 18.1% (data at the end of April 2021). The coverage ratio increased to 47.2% at the end of April 2021, up from 46.1% at the end of December 2020.

The total amount of loans restructured by the end of April 2020 amounted to EUR 3.78 million, of which EUR 2.325 million remains included in problem loans.

It should be noted that the red loans still pose a risk to the stability of the island's financial system and remain the main obstacle to strengthening the banking sector.

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