05/05/2022 13:17
The non-performing loans rate in the Cyprus banking sector is at 11.7% of total loans in the end of January 2022 compared with 11.1% in the end of 2021, data released by the Central Bank of Cyprus (CBC) on Thursday show.
NPLs, as defined by the European Banking Authority, in January 2022 rose to €3,006 million, from €3,000 in the end of December 2021.
The loan coverage ratio is up to 43.6% from 43.1% in the previous month, the CBC added.
Furthermore, total loans in end-2021 declined from €27.01 billion at the end of December to €25.56 billion in the previous month. The Central Bank notes that the large reduction in total lending is mainly due to loan repayments.
Since 31 December 2014 NPLs have exhibited a reduction of €24.3 billion or by 89%, the CBC said.