Hourican announces more action to reduce NPLs

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Hourican announces more action to reduce NPLs
 © BusinessMail 2017
By Stelios Orphanides

Bank of Cyprus’s chief executive John Patrick Hourican said that the lender is considering unspecified steps to accelerate the reduction of its “monstrous” non-performing loans that make half of the total portfolio.

Hourican, who was commenting in an interview with Bloomberg TV, said that “what I would try to do is focus on transformational trade”.

“So, it wouldn’t surprise you that we are looking at a series of potential transformational trades to accelerate the journey and finish early, but we cannot announce what they are yet,” the Irish banker said,...


Hourican announces more action to reduce NPLs


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