NPL
THE land registry will not delay any procedures related to the Estia debt-relief scheme, the organisation’s head, Andreas Socratous said on Thursday. Socratous gave reassurances...
MoUs signed with banks ahead of Estia kick-off
The government on Friday signed a Memorandum of Understanding (MoU) with banks and credit buyers for the implementation of the Estia debt relief scheme, which...
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...
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),...