Moody’s says underperformance in reducing NPLs a “credit negative”

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Moody’s says underperformance in reducing NPLs...
 © CyprusMail 2017
Moody’s Investors Service said that the Cypriot bank’s underperformance in the first quarter of the year in meeting loan restructuring indicators set by their supervisor is a credit negative, adding that the overall improvement in asset quality has been so far “lethargic”.

“The underperformance is credit negative for Cypriot banks because it will lengthen the time that banks need to rehabilitate loan books and strengthen balance sheets, and may create a need for additional provisions,” the rating company said in an emailed statement. The indicators banks failed to meet showed that the number of...


Moody’s says underperformance in reducing NPLs a “credit negative”


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