Debt collection from NPL loan book very good, Coops say

The nationalised Cooperative Credit Institutions' (Coops) debt collecting capacity from the Non-performing loans book is very good, a Coop official said recently.

Yiannis Stavrinides, head of the Cooperative Central Bank’s (CCB) Strategy and Communications Service however noted that addressing the high NPL rate in the Cooperative Sector remains a “big priority.”

Faced with the collapse of its large banking sector, the Cypriot government concluded in March 2013 a €10 billion bailout by the EU and the IMF.

Source: Famagusta Gazette