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1st December 2022
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Non-Performing Loans

Foreclosures freeze a ‘threat to recovery’

Finance Minister Constantinos Petrides will ask President Nicos Anastasiades to return the House's decision to extend a freeze on foreclosures, arguing that Cyprus's credibility...

House extends foreclosures freeze again

When the freeze was last extended in July this year Elizabeth McCaul (a Member of the Supervisory Board of the European Central Bank) advised...

Unpaid housing loans cause concern

The finance ministry has expressed alarm and dissatisfaction at the high amount of money owed to public-law organisations that give out loans to people...

Fitch warns of threats to Cyprus banks’ balance sheets

Fitch rating agency reaffirmed Cypriot banks' negative outlook noting the general environment poses threats to their balance sheets. In a report on the Cyprus banks,...

NPLs remain at 18 per cent of total bank loans

Statistics published by the Cyprus Central Bank reveal that non-performing loans (NPLs) in May 2021 accounted for 18.07% of total bank loans; unchanged from...

KEPIDES starts bad bank transformation

After some delay, Cyprus has started the process of transforming the Cyprus Asset Management Company (KEDIPES) into a national asset management company, also known...

700 borrowers unviable for Estia relief scheme

A total of 700 borrowers with non-performing loans (NPLs) amounting to about €173 million were deemed non-viable for loan subsidisation under the Estia scheme,...

Managing toxic loans outside the banking system

Terms like "non-performing loans", "foreclosures", "loan sales" entered our lives in the last decade as a result of the global financial crisis, as well...

Bad bank would reduce debt mountain

Economists have welcomed the idea of creating a state-owned bad bank to help the banking system offload toxic loans to focus on supporting a...

NAMA Mia! Here We Go Again (reprised)

The Cyprus government is looking to establish a 'bad bank' or NAMA (National Asset Management Agency) by transforming the Cyprus Asset Management Company (KEPIDES). A...

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