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All reports tagged with: "non-performing loans"

Developers listed on leaked memo of risky loans

A number of property developers, including the Leptos Group, the Dolphin Group and the Shacolas Group were amongst the companies listed in an alleged leaked memo from the BoC as having ‘risky’ loans.

IMF specialists to scrutinize Cyprus solvency laws

A reliable source has told CNA that a team from the IMF arrived in Cyprus yesterday and will meet all stakeholders in a bid to scrutinize the Cypriot solvency laws and provide recommendations for amendments.

Why Bank of Cyprus should not be separated

Rather than establishing a separate Asset Management Company, it’s likely that the Bank of Cyprus will set up a separate internal non-performing loan unit to pro-actively manage problematic loans.

Banking commission final report released

The Independent Commission on the Future of the Cyprus Banking Sector has published its final report and recommendations for the long term recovery of the Cypriot banking industry.

Multiple creditors & foreclosures in Cyprus

A new directive for handling customers’ debts has been issued by the Central Bank; however foreclosing on non-performing real estate loans and evictions is not in anyone’s interests.

Bank of Cyprus reports €2.2 billion net loss in 2012

Bank of Cyprus has announced that it made a net loss of €2.2 billion in 2012, in addition to the €1.4 billion loss in the previous year, reflecting deterioration in its loan portfolio and declining collateral values.

Sharp increase in non-performing loans

A recently issued report on Cyprus issued by the International Monetary Fund (IMF) anticipates a sharp increase in non-performing loans following their reclassification to include all loans in arrears for more than 90 days.

Developers are the problem says bank chairman

The Bank of Cyprus is on a frontal attack with the big property developers, as its separation into a commercial and real estate bank aims to secure billions that were injected to the real estate sector.

Redefinition of non-performing loans

Changes to the definition of non-performing loans to comply with European and IFRS accounting standards are necessary to restore Cyprus’ credibility as a regional financial hub.

British rescue proposed in property mis-selling

London-based law firm Maxwell Alves is lobbying politicians and government agencies to resolve claims between clients and property developers in Cyprus without resorting to litigation.

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