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Cabinet approves “Estia” scheme for vulnerable borrowers and NPLs management body
CNA - Kiriaki Demetriou - Cyprus/ΝICOSIA 03/07/2018 13:43



The Cabinet approved on Tuesday the “Estia” scheme aimed at addressing the high volume of non - performing loans in the Cypriot banking sector, by supporting vulnerable borrowers.
 
The Cabinet also approved the Finance Minister’s proposal to set up a body that will undertake the management of non – performing loans of 7 bn euro now owned by the Cyprus Cooperative Bank (CCB).
 
The CCB has signed a business transfer agreement with the Hellenic Bank based on which the latter will acquire a portfolio of primarily performing loans (net loans of €4.

(CNA)

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