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NPLs fell by €3.86 billion in 2020 - Cyprus Property News


NPLs fell by €3.86 billion in 2020
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April 10, 2021
Non-performing loans (NPLs) in the Cyprus banking system dropped to €5.11 billion at the end of 2020; a fall of €3.86 billion compared to the same period of 2019, according to data published the Cyprus Central Bank.
The annual drop of 43% is attributed mainly to the sale of a NPL portfolio by the Bank of Cyprus (project Helix 2A €0.91 billion)), a €0.5 billion write-down by the Hellenic Bank and the sale of NPLs amounting to €0.32 billion by National Bank of Greece Cyprus bank.
In 2020 the number of new NPLs was small due to the debt repayment moratorium imposed by the Cypriot authorities from March until December 2020. This moratorium, which covered performing loans amounting to €11.7 billion, was part of the measures introduced by the government to help minimise the impact of the pandemic. ....

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