Cyprus NPLs post decline in October
Total nonperforming loans (NPLs) in the Cyprus banking sector decreased by 32 million euros at the end of October from a month earlier.
According to data released on Wednesday by the Central Bank of Cyprus, total nonperforming loans decreased in October to almost €4.25 billion, from about €4.29 billion at the end of September and approximately €5.11 billion at the end of 2020.
As a result, the ratio of nonperforming loans to total loans decreased to 15.3% at the end of October, from 15.4% at the end of the previous month.
The coverage ratio rose to 46.5% at the end of October, from 45.7% at the end of September.
Total loans restructured amounted to €3.94 billion, of which €2.05 million are still classified as nonperforming loans.
Data on total loans for November revealed a net decrease of €3.9 million, compared with a net decrease of €15.7 million in October.
The annual growth rate in November stood at 1.4%, compared with 1.3% in October, according to figures the Central Bank of Cyprus released at end of last month.
