All reports tagged with: "NPLs"
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.
Following the second post-programme surveillance mission to Cyprus, the European Commission and the European Central Bank reports that NPLs remain “very high” and that “reform momentum has weakened noticeably.”
Non-performing loans in the Cypriot banking system stood at 47% of total loans at the end of December 2016; a fall of €3.7 billion in two years to €23.7 billion according to data released by the Central Bank of Cyprus.
Key findings form a real estate conference to discuss the state of the Cyprus property market recently hosted by RICS (Cyprus) at which the management of REOs and NPLs were also discussed.
Cyprus has made limited progress with implementing the 2016 country-specific recommendations said the European Commission in its country report on Cyprus issued earlier today.
The European Central Bank made the case on Tuesday for having state-backed ‘bad banks’ buy part of the 1 trillion euros of non-performing loans (NPLs) that are curbing lending and economic growth in parts of the euro zone.
The problem of non-performing loans will take some time to resolve due to the complexity of the problem said the Cyprus Central Bank’s Governor speaking before a parliamentary Committee.
Non-performing loans (NPLs) in the Cypriot banking system fell to a post December 2014 low in August according to statistics released by the Central Bank of Cyprus to stand at €24.55 billion.
A recent seminar in Nicosia focused on the options open to banks in dealing with non-performing loans (NPLs) in Cyprus. Financial expert Erol Riza sums up the advice from key international financial institutions.
The Central Bank of Cyprus (CBC) must push for a greater volume and quality of loan restructurings in addition to halting the creation of new non-performing exposures, for which it has implemented a framework of objectives.