APS and Altamira may prove ineffective in reducing NPLs

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APS and Altamira may prove ineffective in...
 © BusinessMail 2017
By Stelios Orphanides

As the pace of reduction of non-performing loans in the Cypriot banking system appears to have dropped considerably in the first months of this year with banks resorting to outsourcing their problems to specialised units, two economists interviewed by the Cyprus Business Mail said that the see no light at the end of the tunnel.

As Cyprus is in the third successive year of economic growth, the signs that banks only managed to harvest the low hanging fruits are obvious as in the first four months of 2017, total non-performing loans dropped by merely €652.5m. By...


APS and Altamira may prove ineffective in reducing NPLs


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