Cyprus registers the second-highest NPL ratio in the EU
The Cyprus banking system continues to post the second highest Non-Performing Loan (NPL) ratio in the European Union, following Greece, according data published by the
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BoC completes sale of NPLs
Bank of Cyprus announced Friday the completion of the sale of €2.7bn non-performing loans known as Project Helix for €2.1bn. In a statement, the lender
Economy settling into ‘growth phase’ Hellenic says
Cyprus’ ‘recovery phase’ has passed and the economy is settling into its ‘growth phase’, Hellenic Bank’s Economic Research Department said on Tuesday. In its Economic
Sustained reform key to mitigating Cyprus’ economic risks, ESM warns
Cyprus regained an investment grade rating in 2018 thanks to strong economic growth, a prudent fiscal policy, and a more resilient financial sector, and the
Reform, reform, reform, Fiscal Council says
By Gregoris Savva Cyprus needs to implement reforms, boost competitiveness and maintain fiscal surpluses, President of the Fiscal Council Demetris Georgiades said on Thursday. External
ESM’s chief economist calls for Cypriot prudence as external risks loom
By Gregois Savva Rolf Strauch, the European Stability Mechanism’s (ESM) chief economist called for the continuation of prudent economic policies and keeping fiscal buffers as
MPs delay bills on NPL disclosures
LAWMAKERS on Thursday kicked the can down the road on legislation that would oblige them, the president and ministers to declare whether they have non-performing
Outgoing CBC boss has sent updated list of PEPs’ bad loans to House
Outgoing Cyprus Central Bank (CBC) Governor Chrystalla Giorghadji has sent to House President Demetris Syllouris a list of non-performing loans of politically exposed persons (PEPs),
IMF welcomes economic progress but tags on risk-warning
The IMF said Thursday it expected Cyprus to maintain the capacity to repay its debt but warned that this could change under certain circumstances, including
Risks seen from Gesy, public wage bill
DESPITE ITS strong growth, the Cypriot economy still has key vulnerabilities, like the high level of bad debts, which could be compounded by the worsening
Non-performing loans drop by €5.6 billion due to co-op sale
Non-performing exposures (NPEs) in the Cyprus banking system dropped to €11.02 billion in September 2018 marking a €5.6 billion reduction since end-June 2018 as Hellenic
Economy set to grow around over 3 per cent a year by 2021, CBC says
The government will continue to strengthen and deepen the current positive economic growth spokesman Prodromos Prodromou said on Saturday, after the Central Bank of Cyprus
IMF: banking sector still facing one of highest NPL ratios in Europe
Cyprus ‘ banking sector still faces one of the highest non-performing loan (NPL) ratios in Europe, while both private and public sectors have a large
‘Generous’ Estia scheme still of concern, EU says
Some borrowers could interpret Estia handout as a reason to stop paying loans By George Psyllides Despite tightening the eligibility criteria of a subsidy scheme
Co-op decision difficult, but positive for economy, EU official says
The decisions concerning the Cyprus Cooperative Bank (CCB) were difficult for Cyprus but enabled positive developments for the island’s economy, EU Commissioner for Competition Margrethe
A new reality for borrowers
‘You wouldn’t believe what kind of breaks they used to get from banks’ By Elias Hazou LOAN defaulters expecting more flexibility from debt collection agencies
BoC posts €55.8m in net loss in H1, agrees to sell €5.7bn in loans (Update 2)
By Stelios Orphanides Bank of Cyprus said that it generated a net loss of €55.8m in the first six month of the year compared
‘Shocked by Co-op’s fate, other banks may now act’
By Stelios Orphanides THE supervisory decision to go hard on the Co-op, ultimately leading to the bank going out of business, may prompt other banks
S&P affirms its `B/B` credit ratings on Bank of Cyprus Public
S&P Global Ratings said it affirmed its `B/B` long- and short-term issuer credit ratings on Bank of Cyprus Public Co. Ltd. (BoC). The outlook is positive.
Moody`s upgrades Cyprus` ratings, changing outlook to stable from positive
Moody`s Investors Service, has upgraded the government of Cyprus` long-term issuer rating to Ba2 from Ba3. All senior unsecured bond and programme ratings have also