Co-op Bank says NPLS plunge by €806m in 2017

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Co-op Bank says NPLS plunge by €806m in 2017
 © BusinessMail 2018
By Stelios Orphanides

The state-owned Cyprus Cooperative Bank has said that its delinquent loan portfolio dropped last year by €806m to €6.4bn at the end of 2017 compared to a year before, a decrease of 16 per cent.

The drop in the co-ops’ non-performing loans, which peaked at €7.7bn at the end of 2015, occurred in the second half of 2017 “amid the largest ever merger ever undertaken in Cyprus, overshooting initial supervisory targets,” the lender said in an emailed statement on Wednesday, two days after its partnership with Spain’s Altamira came in effect.

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Co-op Bank says NPLS plunge by €806m in 2017


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