Non-performing loans remained steady at 8.3% in November, dropping just below €2 billion for the first time, according to data published by the Central Bank of Cyprus on Thursday.

From a total of €24.17 bln loans, NPLs were at €1.99 bln, down from €2.015 bln in October. NPLs to total loans showed an insignificant decrease from 8.33% in October to 8.27%. NPLs with over 90 days past due were at €1.56 bln, remaining at 6.5% of total loans, with no change since October.

Total restructured loans were at €1.7 bln. Of those, €895 mln continued to be classified as NPLs. Total restructured loans to total loans recorded a decrease to 7.2% from 7.5% in October.

Total accumulated impairment (provisions) in November were at €1.13 bln, of which €1.02 bln concerned NPLs. Total accumulated impairment (provisions) to total non-performing loans went up to 51% from 50.8% in October.

According to CBC data, households NPLs were at €1.11 bln, or 10.5%. A total of €633 mln loans were restructured, of which €402 mln continued to be classified as NPLs.

Non-financial corporations' loans were at €841 mln or 7.1%, out of which €747 mln belonged to SMEs. A total of €1.04 bln were restructured, of which €458 mln continued to be classified as NPLs.