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All reports tagged with: "bank of Cyprus"

Open letter to John Hourican

In an open letter to John Hourican, the CEO of the Bank of Cyprus, a buyer from Scotland asks if the bank intends to call in the security it holds on homes to help repay developers’ debts.

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.

Bank of Cyprus reports €1.94 billion 9 month net loss

The Bank of Cyprus Group Financial Results for the nine months ended 30 September 2013 published earlier today show a net loss of €1.947 billion net loss over the reporting period.

Bank of Cyprus loan restructuring appeals

Borrowers wishing to restructure their credit facilities with the Bank of Cyprus may complete a Submission of Appeal on Restructuring Form and return it to the bank by post or email.

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.

Loan rate cuts are a step in the right direction – BUT

The recent announcement by the island’s ‘big three’ banks to lower interest rates are a step in the right direction, but problems remain and these rate reductions are not enough as George Mountis explains.

Big three banks announce loan rates cut

The Alpha Bank, Bank of Cyprus and the Hellenic Bank have announced plans to lower their interest rates on certain categories of loans including home loans, business loans and credit card loans.

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.

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.

A simple warning on loan restructuring

Loan restructuring is meant to preserve value and rescue good loans that are under temporary stress; they are not a ‘trick’ to rescue bad businesses that were unable to repay their loans in the time of plenty.

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