The latest Financial Stability Report published by the Central Bank of Cyprus (CBC) states "Credit Acquiring Companies (CACs) must possess the tools available to...
The Central Bank of Cyprus (CBC) must push for a greater volume and quality of loan restructurings in addition to halting the creation of new non-performing exposures, for which it has implemented a framework of objectives.
Approximately 11,000 borrowers were granted loans denominated in Swiss francs (CHF) by banks in Cyprus and the billion Euro question is whether the banks communicated the risks.
The banking and real estate sectors in Cyprus are intertwined and the restoration of the health of the banking system is a vital necessity for the sustainable recovery of the real estate market.
Banks in Cyprus could secure the collection of significant parts of loans that are currently not being serviced by managing their non-performing loans more efficiently as Dr George Mountis explains.
Land Registry searches in Cyprus occasionally reveal floating charges/mortgages as encumbrances lodged against the title of a property; in this article Dr George Mountis explains.
The continuous increase in property prices created a false sense of security in Cypriot banks and led to further credit expansion and a real estate "bubble" which burst resulting in a large increase in non-performing loans.
In a question and answer session Dr George Mountis of Emergo Wealth discusses the opportunities for institutional investors who may be considering investing in the Cyprus real estate market.
Following the implementation of an economic adjustment programme in a number of EU member states, different countries have adopted different strategies for dealing with non-performing loans.
If the rise in non-performing loans is to be stopped, the Cypriot banks need to start thinking 'out of the box' and employ innovative approaches that can provide short and long-term solutions to the problem.
