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Non-performing loans (NPLs) remained virtually unchanged in November, reaching € 4.24 billion from € 4.26 billion the previous month.
In contrast, net NPLs, ie loans with a delay of more than 90 days, which do not include the restructured loans that according to the directive of the European Banking Authority are classified as non-performing, showed a small increase for the second consecutive month and amounted to € 3.30 billion in November from € 3.28 billion last month.
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Since the end of 2020, MEXs have shown a decrease of € 0.84 billion, mainly reflecting the sales of red loans made by the Bank of Cyprus .
As a percentage of total loans, NPLs stood at 15.1% from 15.3% in the previous month, while the percentage of net NPLs against total loans remained unchanged at 11.8%.
According to CBC, corporate NPLs remained unchanged at € 1.76 billion in November, while red household loans fell slightly to € 2.17 billion from € 2.18 billion last month. However, of the corporate MEX, 84% (€ 1.49 billion) belonged to small and medium enterprises.
Household NPLs accounted for 51% of total NPLs, while corporate NPLs accounted for 41.5%. Moreover, the coverage rate of corporate NPLs stood at 57.2%, while the coverage ratio of household NPLs amounted to 41%.
Total accumulated provisions amounted to € 2.19 billion in November from € 2.14 billion in the previous month, of which € 2 billion concerned MEX, with the coverage ratio in MEX amounting to 47.7% from 46.5% in the previous month.
Total loans in November 2021 stood at € 28 billion from € 27.9 billion last month.
According to the CBC, total restructured loans fell to € 3.92 billion. from € 3.95 billion in the previous month, attributed to restructured loans classified as serviced in November.
Restructured corporate loans amounted to € 2.27 billion, while restructured household loans However, compared to the end of 2020, the loans that have been restructured by the end of November show an increase of € 0.60 billion.