The number of non-performing loans recorded a drop in January this year compared to the last month of 2016, but remained the same as a percentage of total loans due to deleveraging, data released by the Central Bank shows.
According to the data, total non-performing facilities stood on January 31, 2017, at €23.66 billion compared to €23.84 billion on December 31, 2016. Total loans however were recorded at €50.13 billion compared to €50.53 billion which left bad loans as a percentage of total loans the same as the previous month at 47.2%.
Total restructured non-performing facilities were in at the end of January this year €13.38 billion compared to €13.45 billion at the end of December 2016. On a prospectively positive note however, €9.7 billion of those restructured at end January continued to be classified as non-performing compared to €9.76 billion in the previous month.
As a percentage of total loans restructured facilities increased marginally and were recorded at 26.7% on January 31 of this year compared to 26.6% in December 2016.
Households continued to hold the lead on both total loans and bad loans at the end of January, with total loans for households recorded at €21.56 billion and no performing facilities recorded at €12.06 billion. This makes household debt accounted for 55.9% of bad loans.
Small to medium enterprises (SMEs) had loans of €15.89 billion on January 31 2017 while their non performing facilities reached €9.72 billion. Bad loans to SME`s accounted for 61.2% of bad loans.
Total accumulated impairment provisions as of end January this year were at €9.69 billion or 41% of total non-performing facilities. In December total accumulated impairment provisions stood at €9.92 billion. Total provisions at end December 2015 stood at €10 billion and at end December 2014 at €8.97 billion.
– Cyprus News Agency