NPL decline gains momentum as recovery speeds up

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NPL decline gains momentum as recovery speeds up
 © BusinessMail 2017
By Stelios Orphanides

As economic recovery consolidates, and the government revises its growth forecast to 4 per cent, the reduction in non-performing loans may pick up in pace even as the ratio of restructurings drops, an economist said.

The three major lenders, Bank of Cyprus, Cyprus Cooperative Bank and Hellenic Bank, saw their cumulative non-performing loans drop by almost €1.1bn in the third quarter of 2017, against a cumulative reduction of €857m in April to June and €613m in the first quarter, data compiled by the Cyprus Business Mail show.

Ioannis Tirkides, who heads...


NPL decline gains momentum as recovery speeds up


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