Bank of Cyprus, the island’s largest lender, aims to bring down its non-performing loan rate to a single digit by 2022, leaving behind the legacy problems of the 2013 financial crisis that
By Niki Tsivitanou Terms like “non-performing loans”, “foreclosures”, “loan sales” entered our lives in the last decade as a result of the global financial crisis, as well as the one in Cyprus.
Bank of Cyprus has reached an agreement with funds affiliated to Pacific Investment Management Company LLC (PIMCO), for the sale of Non-Performing Exposures (NPEs) with a gross book value of €545 mln.
Cyprus is still experiencing excessive macroeconomic imbalances, involving a very high share of non-performing loans burdening banks and high private, government, and external debt, the European Commission said Wednesday. This view is