Non-Performing Loans (NPLs) recorded a slight decline in February compared with the month before, dropping from 6.3% to 6.2%.
The Central Bank of Cyprus has attributed the decline mainly to loan repayments, transfers to performing categories, write-offs, and currency fluctuations.
In absolute terms, NPLs fell to €1.55 billion in February, from €1.56 billion in January, while loans more than 90 days past due declined to €1.19 billion, from €1.21 billion.
Total loans in the banking sector reached €24.81 billion at the end of February, registering a modest increase compared to January (€24.72 billion).
Meanwhile, the coverage ratio of NPLs with provisions rose to 58.9%, up from 58.3%. Restructured loans amounted to €1.3 billion, of which €0.7 billion remain classified as NPLs.
