COVID19: Lockdown II will test Cyprus banks

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COVID19: Lockdown II will test Cyprus banks
 © FinancialMirror 2021

Although the government has announced financial support to buffer the effects of a second lockdown, there is a larger credit-negative economic effect for Cyprus banks as the pandemic endures.

The lockdown measures will squeeze business revenue and cash flow for companies after a tough 2020, and will challenge banks’ asset quality, said a Moody’s analysis.

“The support measures will soften the negative effect on banks’ asset quality, but the harsh and prolonged coronavirus restrictions mean they will only delay the realisation of bank credit...


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COVID19: Lockdown II will test Cyprus banks


The contents of this article including any associated images are © FinancialMirror 2021
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Article Tags: covid19, lockdown, cyprus, banks,