Insider Business NPLs still a key challenge for the banks, CBC Governor says 

NPLs still a key challenge for the banks, CBC Governor says 

Central Bank of Cyprus (CBC) Governor Chrystalla Georghadji has outlined the key challenges faced by the banking sector during her speech at the AGM of the Cyprus Banking Association.

Despite improvement in the banking sector since 2013, there are still substantial issues that need to be addressed, she noted.

Georghadji said that the primary objective is to solve the problem of Non-Performing Loans(NPLs) which despite their significant decrease over the past two years they continue to bedevil the banking sector.

The current level of NPLs, she added, is an obstacle to the growth of banks as it reduces their profitability while consuming a significant amount of their capital and many resources (personnel and systems) that could be used in purely banking.

As a result, the contribution of the banking sector to the recovery of the economy through the granting of new loans is limited, she said.

She also assured that the CBC will continue to be next to the Association in providing guidance and any assistance required in relation to the matter.

At the same time, she said that another major challenge for banks is to restore profitability through a viable business model.

Read more

https://in-cyprus.com/news/business/germany-france-say-eu-should-aim-for-5-ceiling-on-banks-bad-loans/

Top Stories

Access to Troodos controlled by Police

The Police announced that on the basis of the Health Ministry decrees aiming to contain the outbreak of the pandemic, tomorrow Sunday, access to...

129 new cases, four deaths announced on Saturday

The Health Ministry announced the death of four persons due to COVID-19. This raises the death toll from the virus in Cyprus to 183,...

Crowding at Troodos; lots of fines by police

Lots of traffic was today seen at Troodos. In order to maintain order but also to monitor that people respected the measures aiming to...

Where to get antigen rapid tests on Sunday 24 January

The Health Ministry announced the following antigen rapid test sites for Sunday, 24 January 2021:   LIMASSOL Parking place Lidl supermarket, Limassol 08:30-16:30 Glafkos Clerides Park, Germasoyia 08:30-16:30 Municipal...

Larry King dies at 87

Larry King dies at 87. Photo taken at his concert at Hard Rock Live in Hollywood, Florida on January 25, 2012. (Reuters)

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...