loan Archives - Financial Mirror

€120 mln loan deal signed for first private energy plant

Cyprus’ first private power plant is on track to go online in 2023, as the project owners Cyfield Group announced the signing of the final financing agreement for the 260MW station. As

3rd August 2022

Business/Energy

Limassol port deal has sting in the tail

A government deal with Limassol port management to avoid a hefty 16% increase in tariffs in exchange for taking over a €5 mln loan is under scrutiny by the Audit Office for

7th March 2022

Cyprus/Maritime

Bank loan restructuring up 400%

Loan restructurings recorded a 400% increase in the first six months of the year, reaching €1.4 bln, Cyprus Central Bank Governor Constantinos Herodotou told MPs. Herodotou, addressing Monday’s House Finance Committee on

7th December 2021

Business

DBRS: Banks slash toxic loan legacy

DBRS Morningstar rating agency reports that Cypriot banks substantially accelerated the reduction of their legacy NPEs in 2020, dropping by 10 percentage points. It noted that NPEs not provisioned for reached their

15th June 2021

Cyprus/Economy

MOODY’S: €1 bln loan guarantee scheme good for banks

Parliament passing a law that established a €1 bln (4% of GDP) loan guarantee scheme is positive for Cypriot banks because it will reduce the credit risk on loans participating in the

29th April 2021

Cyprus

MOODYS: Bank of Cyprus in stronger position to weather COVID after loan sale

Moody’s rating agency said the sale of a bad loan portfolio by the Bank of Cyprus puts it in a better position to deal with an inflow of new NPEs arising from

21st January 2021

Business

COVID19: Loan payment holiday swells to €11.75 bln

Loan payments suspended by banks to help 50,500 borrowers during the COVID-19 pandemic reached a gross value of €11.75 bln last month with the hospitality sector hardest hit, according to Cyprus Central

17th July 2020

Business

Cyprus repays IMF loan early saving €13.4 mln

Cyprus has saved €13 mln by fully repaying an International Monetary Fund (IMF) crisis loan before schedule which was granted to Nicosia during the 2013 financial meltdown. According to a written statement

28th February 2020

Business