Non-performing exposures (NPEs) in the Cyprus banking system remained practically unchanged in May amounting to pound 1.77 billion from pound 1.80 billion the month, with the NPE ratio amounting to 7.4% of total loans.

Compared with the end of 2023, NPEs in the banking sector have registered a reduction of just pound 81 million.

According to data released by the Central Bank of Cyprus (CBC), total loans in arrears over 90 days remained broadly unchanged at pound 1.39 billion amounting to 5.8% of total loans.

NPE coverage ratio in May amounted to 54.4%, marking a marginal rise over 54.2% of the month before, whereas accumulated provisions amounted to pound 786 million.

According to CBC, total restructured facilities in May amounted to pound 1.42 billion, compared with pound 1.44 billion the month before, with restructured facilities which under the European Banking Authority classified as non-performing amounting to pound 0,79 billion, down by just pound 4 million compared with May.

Of the total NPEs, po
und 971 million or 54% of the total were held by households, whereas delinquent loans held by corporations amounted to pound 760 million, of which pound 695 mln were held by small and medium-sized enterprises (SMEs).

The coverage ratio for corporate NPES amounted to 69% in May, whereas the ratio for household NPEs amounted to 42%.

Source: Cyprus News Agency