Banks in Cyprus to sell 4 bln euros of...
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The two main Cypriot lenders, Bank of Cyprus and Hellenic Bank, are set to sell packages of non-performing loans amounting to 4 billion euros (4.44 billion U.S. dollars), Central Bank governor Constantinos Herodotou said on Monday. Herodotou told the parliamentary finance committee that the selling of the loans will be a major development for Cypriot banking. “The amounts are such that will allow the banks to turn their attention to operational issues instead of only dealing with non-performing loans, something which supervising authorities are...
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