Cyprus News Agency

Trending-news
     CNA   Spokesman hopes Turkey will eventually show a different attitude from what it has so far     CNA   President Anastasiades expresses regret for being targeted through libellous articles     CNA   Government has taken necessary measures to address repercussions of a possible disordered Brexit     CNA   Thirty new cultural heritage projects in the pipeline, Hadjidemetriou tells CNA     CNA   University of Cyprus and seven Greek Universities rank among 1,000 best schools in the world     CNA   Patriarch of Alexandria and All Africa, Theodoros II to visit Cyprus     CNA   

Bad loans' drop reduces Cyprus' sovereign liabilities, but banking sector still weak, Fitch says
CNA - Cyprus/NICOSIA 09/02/2019 10:36


International ratings agency Fitch has said that the decline in Cypriot banks’ non-performing exposures “significantly reduces” contingent liabilities to the sovereign, adding however that the banking sector “remains weak” and that further reductions of bad loans would partly depend on the effective use of legal tools adopted in the previous year.

"Data released by the Central Bank of Cyprus in January showed that NPEs fell to €11 billion at end-3Q18, or 32% of total gross facilities, from €16.6 billion (40%) at end-1H18,” Fitch said.

(CNA)

*The full text of the news item is available in the paid version of the CNA web service. Subscription Form

*CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.
   

Closing:16/08/2019
Volume:41.052,28
CSE:70.220  0.300%
FTSE/CySE:42.130  0.330%
Nicosia37°C
Larnaca32°C