{"id":105,"date":"2021-07-25T12:34:05","date_gmt":"2021-07-25T12:34:05","guid":{"rendered":"https:\/\/www.starwall.eu\/?post_type=news&#038;p=105"},"modified":"2021-12-16T14:05:00","modified_gmt":"2021-12-16T14:05:00","slug":"news-from-the-cyprus-banking-sector","status":"publish","type":"news","link":"https:\/\/www.starwall.eu\/en\/news\/news-from-the-cyprus-banking-sector\/","title":{"rendered":"News from the Cyprus banking sector"},"content":{"rendered":"<p><strong>Non-performing loans (NPLs) in the banking sector increased in April according to a report that the Central Bank of Cyprus issued on Friday.<\/strong><!--more--><\/p>\n<p>NPLs in reached \u20ac5.14 billion in April compared with \u20ac5.13 billion in March, while the ratio of NPLs to total loans rose to 18.1% and total loans fell to \u20ac28.44 billion from \u20ac28.63 billion in March.<\/p>\n<p>At the end of April, loans in arrears for more than 90 days had fallen to \u20ac3.92 billion from \u20ac4.00 billion the previous month.<\/p>\n<p>Total restructured loans at the end of April rose to \u20ac3.79 billion (of which \u20ac2.33 billion were classified as non-performing) compared with the March figure of \u20ac3.53 billion (of which \u20ac2.22 billion were classified as non-performing).<\/p>\n<p>Total provisions at the end of April stood at \u20ac2.60 billion of which \u20ac2.48 billion concerned non-performing loans.<\/p>\n<p>Of the total \u00a0\u20ac5.13 billion NPLs in April, \u20ac2.75 billion were held by households and \u20ac2.18 billion were held by businesses.<\/p>\n<p>The high level of NPLs are a threat to the stability of the island\u2019s financial system and the principal stumbling block to strengthening the banking sector.<\/p>\n<h2>Banking sector NPL report<\/h2>\n<p>See: Aggregate Cyprus banking sector data (non-performing loans data) with reference date 30 April 2021 from the Central Bank of Cyprus.<\/p>\n<h2>Negative interest rates<\/h2>\n<p><strong>We have also learnt that the Cyprus banks are considering the introduction of negative interest rates for individuals with bank deposits exceeding \u20ac100,000.<\/strong><\/p>\n<p>Currently, people (and businesses) are holding too much money in the banks with the expectation that their deposits will be worth more tomorrow than today. This can result in a sharp decline in demand, and send prices even lower.<\/p>\n<p>The imposition of a negative interest rate is designed to help the economy grow by encouraging consumer spending.<\/p>\n<p>The European Central Bank introduced negative rates in 2014. Its deposit rate is currently -0.5%. More recently, the central banks of Germany, Sweden, Denmark and Switzerland have lowered their rates below zero.<strong>Non-performing loans (NPLs) in the banking sector increased in April according to a report that the Central Bank of Cyprus issued on Friday.<\/strong><!--more--><\/p>\n<p>NPLs in reached \u20ac5.14 billion in April compared with \u20ac5.13 billion in March, while the ratio of NPLs to total loans rose to 18.1% and total loans fell to \u20ac28.44 billion from \u20ac28.63 billion in March.<\/p>\n<p>At the end of April, loans in arrears for more than 90 days had fallen to \u20ac3.92 billion from \u20ac4.00 billion the previous month.<\/p>\n<p>Total restructured loans at the end of April rose to \u20ac3.79 billion (of which \u20ac2.33 billion were classified as non-performing) compared with the March figure of \u20ac3.53 billion (of which \u20ac2.22 billion were classified as non-performing).<\/p>\n<p>Total provisions at the end of April stood at \u20ac2.60 billion of which \u20ac2.48 billion concerned non-performing loans.<\/p>\n<p>Of the total \u00a0\u20ac5.13 billion NPLs in April, \u20ac2.75 billion were held by households and \u20ac2.18 billion were held by businesses.<\/p>\n<p>The high level of NPLs are a threat to the stability of the island\u2019s financial system and the principal stumbling block to strengthening the banking sector.<\/p>\n<h2>Banking sector NPL report<\/h2>\n<p>See: Aggregate Cyprus banking sector data (non-performing loans data) with reference date 30 April 2021 from the Central Bank of Cyprus.<\/p>\n<h2>Negative interest rates<\/h2>\n<p><strong>We have also learnt that the Cyprus banks are considering the introduction of negative interest rates for individuals with bank deposits exceeding \u20ac100,000.<\/strong><\/p>\n<p>Currently, people (and businesses) are holding too much money in the banks with the expectation that their deposits will be worth more tomorrow than today. This can result in a sharp decline in demand, and send prices even lower.<\/p>\n<p>The imposition of a negative interest rate is designed to help the economy grow by encouraging consumer spending.<\/p>\n<p>The European Central Bank introduced negative rates in 2014. Its deposit rate is currently -0.5%. More recently, the central banks of Germany, Sweden, Denmark and Switzerland have lowered their rates below zero.<\/p>","protected":false},"featured_media":110,"template":"","class_list":["post-105","news","type-news","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>News from the Cyprus banking sector - STARWALL<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.starwall.eu\/en\/news\/news-from-the-cyprus-banking-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"News from the Cyprus banking sector - STARWALL\" \/>\n<meta property=\"og:description\" content=\"Non-performing loans (NPLs) in the banking sector increased in April according to a report that the Central Bank of Cyprus issued on Friday.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.starwall.eu\/en\/news\/news-from-the-cyprus-banking-sector\/\" \/>\n<meta property=\"og:site_name\" content=\"STARWALL\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-16T14:05:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.starwall.eu\/wp-content\/uploads\/2021\/07\/euro-coins-banknotes.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"696\" \/>\n\t<meta property=\"og:image:height\" content=\"392\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.starwall.eu\/en\/news\/news-from-the-cyprus-banking-sector\/\",\"url\":\"https:\/\/www.starwall.eu\/en\/news\/news-from-the-cyprus-banking-sector\/\",\"name\":\"News from the Cyprus banking sector - 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