CBC calls for common bad loans management unit at banks

The Central Bank of Cyprus said recently the Cypriot banks should set up a common non-performing exposures (NPEs) management unit, as bad loans in the Cypriot banking system hovers around €24 billion.

The CBC’s remarks come as Hellenic Bank became the first financial institution joined forces with APS holdings, a company specialising in asset management, setting up a debt servicing company.

Furthermore, the Chief Executive Officer of the Cooperative Central Bank Nikolas Hadjiyiannis told CNA that the CCB is examining the possibility to set up a platform for NPE’s management.

Source: CNA

Cyprus Profile

articles | 02 February 2017