Printer Friendly

Loan restructurings decline to a year low.

Loan restructurings in the Cypriot banking sector declined to their lowest level this year, as the banks enter into the more difficult cases of non-performing exposures (NPEs), which in July declined marginally to AaAaAeA@1/422.63 billion, marking a reduction of 0.06 billion compared wi the previous month.

According to figures released by the Central Bank of Cyprus (CBC), loan restructurings declined by AaAaAeA@1/4129 million to AaAaAeA@1/412.68 billion comp with the previous month. Restructurings have declined to a year-low marking a reduction of AaAaAeA@1/40.75 billion compared with January 201

In July NPEs declined marginally to AaAaAeA@1/422.36 billion compared with AaAaAeA@1/42 billion last month. NPEs amounted to 45 per cent of total loans which declined to 49,46 billion in July, marking a reduction of AaAaAeA@1/40.36 billi compared with June 2017.

According to the CBC figures, the monthly reduction is mainly attributed in the migration of restructured non-performing loans to the performing loans portfolio. Under the European Banking Authority Directive, a restructured loan should be considered as non-performing for at least 12 months.

Compared with July 2016, NPEs marked a sizeable reduction of AaAaAeA@1/42 billi or 8.1 per cent.

The banks' accumulated provisions remained unchanged to AaAaAeA@1/410.47 billi resulting in a coverage ratio of 47 per cent over the total NPEs. Compared with January 2017 accumulated provisions marked an increase of AaAaAeA@1/46 million or 6.35 per cent.

The post Loan restructurings decline to a year low appeared first on Cyprus Mail .

Copyright [c] Cyprus Mail 2017 Provided by SyndiGate Media Inc. ( Syndigate.in

COPYRIGHT 2017 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2017 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Cyprus Mail (Cyprus)
Geographic Code:4EXCY
Date:Nov 7, 2017
Words:279
Previous Article:Film review: Home Again **.
Next Article:Two suspected burglars arrested in Paphos.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters