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All reports tagged with: "non-performing loans"

Cyprus programme review delayed

The European Commission has said that it cannot continue with the next review of the Cyprus adjustment programme following a decision by parliament to delay the Foreclosures Law.

Non-performing loans at 49 per cent

Non-performing loans (NPLs) in the Cypriot financial system stood at 49% of total loans at the end of October 2014, from 48.5% in the previous month, according to data released by the Central Bank of Cyprus.

Financial dispute mediation

Authorities will start accepting applications for the appointment of mediators in financial disputes from Friday, the agency tasked with the resolution of those disputes said on Tuesday.

Mass repossessions unlikely

Following decisions concerning the foreclosures law rumours have been circulating that banks in Cyprus will soon start mass repossessions and selling properties to recover money they are owed.

Non-performing loans €27.90 billion

Non-performing loans (NPLs) in the Cypriot financial system fell from €27.95 billion in July to €27.90 billion in August, approximately 175 per cent of Cyprus GDP according to the Cyprus Central Bank.

No foreclosure law no money

Eurogroup President Jeroen Dijsselbloem told a news conference that putting legislation in place to deal with the high level of non-performing loans (NPLs) is essential for Cyprus to return to financial health.

Non-performing loans at €29 billion

Non-performing loans (NPLs) in the Cypriot banking system continued their upward trend in July reaching €28.88 billion; 47.17 per cent of the total amount of loans according to the island’s Central Bank.

Reckless banks lent millions

A report by the Cyprus Central Bank reveals how the island’s banks lent millions of Euros recklessly without having properly examined the borrowers’ ability to repay or the value of the loan collateral.

The plan

Following a vote in the Cyprus parliament to adopt the Euro, a banker, a government minister, a property developer and a lawyer meet at a restaurant and discuss the plan for the island’s future.

Construction sector worst non-payers

Half the businesses in Cyprus are failing to repay their loans, with the construction sector being the worst offender as non-performing loans reached 72 percent in June according to the Central Bank.

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