Bank of Cyprus is on track to return to steady profits after it announced a third-quarter after-tax profit of €19 mln and a significant reduction in its non-performing loans. The bank reported
Moody’s has deemed the latest Bank of Cyprus transaction to offload nonperforming loans and a property portfolio worth €700 mln as credit positive for the group’s balance sheet. It said the transaction,
The decisions made by the European Central Bank (ECB) in the early stages of the Covid-19 pandemic are considered a milestone for the European financial market. The decisions were diffused by unprecedented
The high level of Non-Performing Loans (NPLs) is a challenge that must be addressed to increase the economy’s resilience. In addition to the high level of NPLs, Cyprus also has a high
By Nicole Phinopoulou On September 17, 2021, the Financing and Loan Agreements with the European Commission were published in the Official Gazette of the Republic, thus subsequently authorising the immediate disbursement of
Capital Intelligence Ratings affirmed late Friday the Republic of Cyprus long-term foreign currency rating (LT FCR) and short-term foreign currency rating (ST FCR) at ‘BB+’ and ‘B’, respectively, revising the outlook for
The Central Bank of Cyprus published data showing the evolution of aggregate non-performing loans for all credit institutions, with NPLs standing at €5.134 bln in May from €5.141 mln the month before.
Another company prepares to enter the non-performing loans (NPLs) market in Cyprus. Themis – the Goddess of Justice – will own and take over the management of NPLs the global giant Pimco
Massive state intervention prevented a rise in non-performing loans (NPLs) during the Covid-19 pandemic in central, south-eastern Europe (CESEE), but the quality of bank assets after the phasing out of measures “remains uncertain”, according
The Cyprus economy will recover in the second half of 2021 and the economic and fiscal disruption caused by the pandemic will dissipate over the forecast horizon, according to Capital Intelligence Ratings.