Cyprus Mail
Cyprus

Moody’s: licensing of Cyprus’ first credit-acquiring company credit positive for banks

Moody's rating agency

The licensing by the Central Bank of Cyprus for the selling of loans to B2Kapital Cyprus Ltd. is credit positive for Cypriot banks, Moody’s rating agency has said.

“The licencing, the Central Bank’s first, is credit positive because it will enhance debt collection and provide domestic banks another means to reduce their high stock of nonperforming loans,” Moody’s says in a press release.

It notes that “last Monday, B2Kapital Cyprus Ltd. announced that on 10 May the Central Bank of Cyprus had granted it a licence to operate as a credit-acquiring company,” adding that “B2K is a wholly owned subsidiary of Norway’s B2Holding ASA (Ba3 stable), a leading pan-European debt specialist.”

Related posts

Napa mayor launches contest for construction of amphitheatre

Peter Michael

Police search for robbery suspects

Peter Michael

Tourist seriously injured in hotel fall

Peter Michael

Alibaba and the $15 bln question: Amid Hong Kong’s protests, when to list?

Reuters News Service

Barbers and musicians for peace

Eleni Philippou

‘300,000 trees in Nicosia’ initiative spreading to other towns

Lizzy Ioannidou

3 comments

Comments are closed.