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All reports tagged with: "non-performing loans"

Cash-rich banks stockpiling real estate

Cash-rich banks are stockpiling properties as they turn to buy real estate linked to mortgages of defaulted borrowers as banking institutions dominate the property market.

Banks to offload €4 billion NPLs

The Bank of Cyprus and the Hellenic Bank will sell non-performing loans (NPLs) worth €4 billion by the end of February enabling them to dispose of more than 10% of their problematic loans.

NPLs in Cyprus rise for second month

Non-performing loans (NPLs) rose for a second consecutive month in May amounting to €8.05 billion with non-performing exposures (NPEs) dropping by €11 million to €10.13 billion, or some 30.8% of total 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.

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