All reports tagged with: "non-performing loans"
Cyprus NPL ratio second highest in EU
The Cyprus banks have the second highest Non-Performing Loan (NPL) ratio in the European Union after Greece, according to the European Banking Authority (EBA) ‘Risk Dashboard’.
EDEK wants to freeze all repossessions
Political party ‘Movement of Social Democracy’ (EDEK) is planning to table proposals to freeze all repossessions by the banks as an extra safeguard for vulnerable homeowners who won’t be covered ‘Estia’.
Possible foreclosures law changes worry banks
Banks have expressed concerns over possible changes to the foreclosures law as they fear appeals could be stuck in the island’s slow courts for many years negatively impacting their business.
Renewed call to reform Title Deeds system
The EC and the ECB have renewed their call on Cyprus to “swiftly address the long-overdue reform of the title deeds issuance and transfer system” at the completion of their 6th PPS mission.
Cyprus’ vulnerabilities remain significant
The European Commission notes that despite the recent improvement, Cyprus’ vulnerabilities, which are mostly due to long-lasting stock-imbalances, continue to be significant.
Cyprus banks awash with properties
Banks in Cyprus have acquired more than 14,000 properties from households and businesses through foreclosures and debt-to-assets swaps according to a report in the Phileleftheros.
Trapped buyers still at banks’ mercy
Despite promises made by deputies last November that they intended to resolve the ‘trapped buyers’ mess by Christmas, it seems that little (if any) progress has been made towards its resolution.
Bank of Cyprus sells NPLs to APS
The Bank of Cyprus has sold non-performing loans (NPLs) amounting to some €34 million to APS, part of the APS Holdings group, which is also handling the Hellenic Bank’s portfolio of bad debts.
Property news in brief
Over the past week a number of news reports concerning property in Cyprus have appeared in the local media about non-performing loans (NPLs), recent property deals and the bank of Cyprus.
Limited progress on resolving NPLs
The International Monetary Fund (IMF) noted that Cyprus had made little progress on resolving non-performing loans in its mission’s concluding statement following its recent official visit.
