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All reports tagged with: "non-performing loans"

Property news in brief

Over the past week a number of news reports concerning property in Cyprus have appeared in the local media about non-performing loans (NPLs), recent property deals and the bank of Cyprus.

Limited progress on resolving NPLs

The International Monetary Fund (IMF) noted that Cyprus had made little progress on resolving non-performing loans in its mission’s concluding statement following its recent official visit.

Will NPLs sale affect the Cyprus property market?

Assessing the impact of the sale of non-performing loans (NPLs) will have on the Cyprus property market is not straightforward as George Mouskides, Chairman Cyprus Property Owners Association, explains.

Bank of Cyprus confirms Apollo NPLs sale

The Bank of Cyprus has announced that it has negotiated the sale of a portfolio of non-performing loans with a contractual balance of €5.7 billion to alternative investment manager Apollo Global Management LLC.

Apollo close to buying Cyprus NPLs

Apollo Global Management LLC is the preferred bidder to buy a non-performing loan (NPL) portfolio being sold by Bank of Cyprus Holdings Plc according to people with knowledge of the matter.

New repossession law hits brick wall

Legal hurdles to the new repossession law, which was introduced earlier this year, have arisen after local courts put the brakes on the supposedly faster process for banks to reduce non-performing loans (NPLs).

Funds eyeing Bank of Cyprus bad loans

A number of funds are reported to be interested in buying some of the Bank of Cyprus’ non-performing loan portfolio, which is valued at as much as €5 billion, according to Bloomberg.

Non-performing loans highest in Europe

Non-performing loans (NPLs) in the Cypriot construction and real estate sectors are amongst the highest in Europe with construction NPLs standing at 75 per cent and real estate NPLs standing at 39 per cent at the end of March.

Tougher insolvency & NPL laws

MPs approved tougher laws for dealing with non-performing loans (NPLs) and foreclosures that should also enable trapped buyers to get a Title Deed at a special plenary session of the Cyprus parliament yesterday.

Opposition delays NPL & Co-op bills

Opposition parties have rejected a request by the Cyprus government to urgently discuss five bills concerning the management of non-performing loans (NPLs) and the takeover of the Co-op by the Hellenic bank.

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