Non-performing exposures (NPEs) in the Cyprus banking system remained practically unchanged in May amounting to €1.77 billion from €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 €81 million.

According to data released by the Central Bank of Cyprus (CBC), total loans in arrears over 90 days remained broadly unchanged at €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 €786 million.

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

Of the total NPEs, €971 million or 54% of the total were held by households, whereas delinquent loans held by corporations amounted to €760 million, of which €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%.