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All reports tagged with: "non-performing loans"

Pay up and shut up

Asked to comment on reports that thirty large borrowers were being put under pressure by the Bank of Cyprus to repay their debts, President Anastasiades said they have no option but to pay.

NPLs of 22 developers highlighted by Troika

Troika calls for the non-performing loans of the top 22 corporates and real estate developers to be dealt with by “Special Projects Division” within the Bank of Cyprus to get them performing again – or seize collateral.

Debt relief or foreclosures?

The debate continues as to whether a debt relief programme should be introduced to assist those who can no longer afford the loan repayments on their first home to avoid foreclosure.

You can’t produce a baby in one month

Warren Buffet’s quote “You can’t produce a baby in one month by getting nine women pregnant” is an excellent metaphor of what Cyprus needs most; patience. Pavlos Loizou explains.

Concerns raised over home repossessions

As the debt crisis continues and property developers fold, some 6,000 cases are pending with the land registry relating to non-performing loans and properties held as collateral and subject to repossession.

Will Cyprus adopt a debt relief package like Iceland?

Will Cyprus follow the example of Iceland and launch a mortgage debt relief programme to assist households who can no longer able to afford to maintain their mortgage repayments?

Bank of Cyprus ashamed over past practices

The new Bank of Cyprus President, Christis Hassapis, has apologised to the country, shareholders and depositors over the previous lending practices of the bank and has vowed not to repeat past mistakes.

Central Bank issues stark warning on foreclosures

The Central Bank of Cyprus has issued a stark warning to banks to change their attitudes towards borrowers in efforts to prevent the seizure and subsequent sale of primary residences.

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.

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