Bank of Cyprus to sell restructured NPLs to other bank

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Bank of Cyprus to sell restructured NPLs to...
 © BusinessMail 2017
By Stelios Orphanides

Bank of Cyprus has agreed to sell a small number of restructured non-performing loans of developers and construction companies to a smaller undisclosed lender, Politis reported on Monday.

The bank which will be the first so test the 2015 legislation that allows the sale of loans to third parties, is already informing borrowers about its intention, Politis reported without citing its source.

The completion of this type of transactions which implies a reduction of both the bank’s non-performing loans, seen at €11bn in December, overall loans and provisions, a cash...


Bank of Cyprus to sell restructured NPLs to other bank


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