Cypriot banks’ underperformance in loan arrears resolution is credit negative, warns Moody’s

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Cypriot banks’ underperformance in loan arrears...
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Credit rating agency Moody’s warned on Thursday that the underperformance of the three major Cypriot banks in restructuring loans presenting arrears is credit negative and could create a need for additional provisions.

Moody’s cited figures from the Central Bank of Cyprus, published last Thursday, which showed that the Cypriot banks have fallen short in three out four indicators, set by the Central Bank on loan restructuring.

“Although banks for the past six quarters have exceeded their target in proposing sustainable solutions (see Target 1...


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Cypriot banks’ underperformance in loan arrears resolution is credit negative, warns Moody’s


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Article Tags: cypriot, banks, underperformance, arrears, resolution, credit, negative, warns, moody,