All reports tagged with: "non-performing loans"
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.
Will NPLs sale affect the Cyprus property market?
Assessing the impact of the sale of non-performing loans (NPLs) will have on the Cyprus property market is not straightforward as George Mouskides, Chairman Cyprus Property Owners Association, explains.
Bank of Cyprus confirms Apollo NPLs sale
The Bank of Cyprus has announced that it has negotiated the sale of a portfolio of non-performing loans with a contractual balance of €5.7 billion to alternative investment manager Apollo Global Management LLC.
Apollo close to buying Cyprus NPLs
Apollo Global Management LLC is the preferred bidder to buy a non-performing loan (NPL) portfolio being sold by Bank of Cyprus Holdings Plc according to people with knowledge of the matter.
New repossession law hits brick wall
Legal hurdles to the new repossession law, which was introduced earlier this year, have arisen after local courts put the brakes on the supposedly faster process for banks to reduce non-performing loans (NPLs).
