Cyprus Mail
Business

Top bankers say foreclosure law will help reduce NPLs

By Stelios Orphanides

The law on foreclosures of mortgaged immovable properties, passed recently by the parliament, will help bring clients to the negotiating table, top bankers said, according to the Cyprus News Agency.

The comment was made at a round-table discussion involving some of Cyprus’s top bankers, including Hellenic Bank’s chief executive officer Bert Pijls, the head of restructurings and recoveries at Bank of Cyprus, Euan Hamilton and the general manager of the Cooperative Central Bank Marios Clerides.

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