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All reports tagged with: "nonperforming loans"

Cyprus faces “sizeable downside risks”

Following its mission to Cyprus the International Monetary Fund said that “sizeable downside risks” still exist, citing an extremely high private sector debt and a high proportion of non-performing loans (NPLs).

Cyprus needs to accelerate debt reduction

The International Monetary Fund (IMF) has called on Cyprus to speed up reductions in public and private debt to rebuild confidence and deliver balanced, sustainable growth, and support balance sheet repair.

BoC sets up bad real estate asset unit

The Bank of Cyprus has established a Real Estate Management Unit that aims to acquire real estate in a voluntary asset-to-debt swap of non performing delinquent borrowers that would otherwise follow the foreclosure process.

Arrears and NPLs at unprecedented levels

For many years the banking sector in Cyprus adopted poor risk and credit management practices, dominated by asset based lending, and an overexpansion of the real estate market.

Nonperforming loans at €23 billion

Confidential information from the Central Bank released by StockWatch today puts the level of non-performing loans of the domestic banks at €23 billion requiring several billions more to recapitalise them.

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