Hellenic adds €51m in provisions, expects Q2 €13m loss, says capital adequate (Update-1)
Hellenic Bank, the island’s third largest lender, has said that it expects to post a €13m after tax loss in April to June on a...
NPL
Hourican vows to clamp down on strategic defaulters, asks society to assist (Updated)
Bank of Cyprus’s chief executive officer John Hourican said that the island’s high levels of delinquent loans of roughly half of the banking system’s total...
BOC posts net loss of €554m in H1
Bank of Cyprus, the island’s largest lender said that it generated in the first six months of the year a net loss of €554m compared...
Moody’s says underperformance in reducing NPLs a “credit negative”
Moody’s Investors Service said that the Cypriot bank’s underperformance in the first quarter of the year in meeting loan restructuring indicators set by their supervisor...
APS and Altamira may prove ineffective in reducing NPLs
As the pace of reduction of non-performing loans in the Cypriot banking system appears to have dropped considerably in the first months of this year...
The ‘existential threat’ to conventional banking models
Previous articles in the Bankers’ Alert series have examined how conventional banking models, which are inherently conservative, may inhibit banks’ efforts to successfully clean up...
Banks performance in tackling NPLs drops in Q1, CBC says
The Central Bank of Cyprus said that Cypriot banks made less progress than expected in the first quarter of the year in meeting the four...
Investment-grade rating seen within reach in the next 12 months
Two economists said that, following Friday’s upgrade by Moody’s Investors Service, it is realistic to expect that Cyprus could see its credit rating upgraded to...
Co-op announces deal with Spanish NPL manager Altamira
The state-owned Cooperative Central Bank said that it entered an agreement with Spain’s Altamira Asset Management SS to set up a joint unit to which...
Our View: Co-op should consider doing what Hellenic did with NPLs
ALTHOUGH the economy is on the road to recovery, concerns about non-performing loans have not receded. While we avoid discussion of the problem in Cyprus,...
