Non-performing loans (under the EBA directive) in the Cypriot banking sector declined marginally to €1.65 billion in July from €1.67 billion in the previous month, corresponding to 6.8% of total loans.

Total loans in July rose marginally to €24.14 billion from 24.12 billion.

According to data released by the Central Bank of Cyprus (CBC), loans with amounts due over 90 days, (not-including restructured facilities) remained unchanged to €1.3 billion.

Provision coverage ratio in July amounted to 55.2% of total non-performing loans with accumulated provisions covering NPLs amounting to €0.91 billion.

According to the CBC, total restructured loans in July declined to €1.33 billion from €1.36 billion the month before. Of these facilities, €0.72 billion continued to be classified as non-performing under the EBA directive, from €0.74 billion in June.

Corporate NPLs in July amounted to €696 million of 5.8% of total loans, of which €620 million held by small and medium-sized enterprises, whereas NPLs held by households amounted to €917 million or 8.7% of total loans. The provision coverage ratio for corporate NPLS amounted to 73% while the coverage ratio for household NPLs stood at 40.5%