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All reports tagged with: "banking system"

Foreclosures highlight we are the eternal victims

A personal view on foreclosures, the banking system and the Cypriot mentality of never taking responsibility for actions & decisions by ‘Patroclos’ a regular columnist in the Sunday edition of the Cyprus Mail.

Blunt warning on foreclosures law changes

Adjustments to the law on foreclosures could have “significant negative impact” on the Cyprus banking system warns the European Central Bank (ECB) in an email to the Central Bank governor.

Non-performing loan laws inefficient

The legal frameworks introduced by Cyprus aimed at reducing non-performing loans (NPLs) are inefficient according to the European Stability Mechanism (ESM) in its annual report.

NPLs remain problematic says IMF

The high level of non-performing loans (NPLs) remain a problem for the Cyprus banking sector despite the strong growth boosting the island’s economy says the IMF representative in Cyprus.

Mixed signals from Moody’s

In two recent reports Moody’s said that banks will benefit from increased loan demand but warned that lack lustre performance in loan restructuring is a credit negative and that overall improvement in asset quality to date has been “lethargic”.

Banks highly exposed to construction sector

The Cyprus Central Bank reports that banks are highly exposed to the construction sector in its “Household and Non-Financial Corporations Indebtedness Report” published earlier this week.

Hourican disappointed by shenanigans

John Hourican, the outgoing CEO of the Bank of Cyprus said he was disappointed by the ‘shenanigans’ of lawmakers that delayed and diluted laws aimed at helping banks collect on a huge number of non-performing loans.

Banking system corruption

Investigators looking into corruption in the Cyprus banking system that resulted in the collapse of the island’s economy have uncovered unprecedented bad lending practices by the banks.

Banks need tools to pressurise delinquent borrowers

The banks need the means to pressurize obstinate and viable borrowers into servicing their loans; average borrowers and homebuyers should not be their primary targets, says Cyprus Finance Minister.

Stemming the rise of non-performing loans

If the rise in non-performing loans is to be stopped, the Cypriot banks need to start thinking ‘out of the box’ and employ innovative approaches that can provide short and long-term solutions to the problem.

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