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All reports tagged with: "NPLs"

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.

First auction of foreclosed properties

The first online auction of foreclosed properties will be held Wednesday morning kicking off at 10:00 and continuing for two hours unless a one-hour extension is granted when 16 properties will go under the hammer.

BoC to repossess non-Estia protected properties

The Bank of Cyprus (BoC) will repossess properties if their owners do not apply for protection under the Estia scheme; it’s only received 487 applications from an estimated 2,500 eligible owners.

Online property auctions to combat NPLs

An online auctions platform has been launched designed to increase the sale of mortgaged properties whose owners have defaulted on their loan agreement and before a foreclosure has taken place.

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’.

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.

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.

House repossessions at a low ebb

Although recent changes to the law have been made in efforts aimed at helping the Cyprus banking system to reduce high levels of NPLs, house repossessions are still at a low ebb according to Central Bank data..

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.

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