05/06/2014 07:39
The major issues in today’s financial press are the Central Bank data for the non-performing loans in March and the decision that the Cyprus Securities and Exchange Commission is expected to announce for the purchase of Greek bonds by Bank of Cyprus and Laiki Bank.
The “Economy” inset of newspaper “Phileleftheros” refers to the Central Bank data on the non-performing loans in March. According to them, in late March the non-performing loans increased to 50.7% from 47.8% a month ago, reaching €6.8 billion. In the commercial banks the problematic loans stood at 41.76% out of total €47.9 billion from 41.34% in February. In the Cooperatives, the non-performing loans were at 50.72% in March out of total €13.3 billion, while in February they were 47.77%.
Based on the CB directive, a loan is regarded as non-performing when is delayed beyond 90 days.
Elsewhere the newspaper reports that according to Land Registry data, the total increase in the deeds of sale for the first five months of the year reached 20%.
Other headlines:
-Unemployment records small decline but remains high
-Increase in depository rates in April
-Decline of ELA in the specific period a mistake
-House raffles for Tax Superintendent
The “Economy” inset of newspaper “Politis” refers to the Central Bank data on the non-performing loans in March. According to them, the banking sector proceeded with restructuring of loans of €7 billion by late March. The €6.31 billion concern the commercial banks and the 0.65% the Cooperatives. Overall, NPLs in March stood at €26.77 billion, increased by €212 million, due to an increase in the NPLs in the Cooperatives.
“Politis” also refers to the Central Bank data on interest rates in April. According to them, the interest rate concerning other loans to households recorded a decrease to 4.98% compared to 5.93% in the previous month. The interest rate for loans to households for house purchase stood at 4.66% compared to 4.53% in the previous month.
Other headlines:
-EBRD starts working amid reactions
-Unemployment in recession
-What are we doing in Russia? John Hourican
-Gains of 4.85% in the CSE
The newspaper “Simerini” refers to the decision that the Cyprus Securities and Exchange Commission is expected to announce for the purchase of Greek bonds on behalf of Bank of Cyprus and Laiki Bank. As noted, if the SEC finds that bonds are bought without informing investors or there was negligence on the part of the directors, then those who are responsible will be named.
The “Economy” inset of the newspaper refers to the turmoil from the dispute between PASYPI and the Board of Directors of CAIR for the sale of the third time slot at Heathrow. According to the report, the parties, with announcements or statements by their represnettaives, urged the competent authorities to act fast in order to solve the problem, while they requested a briefing in relation to the future of the national carrier.
Other headlines:
-D. Kalogirou: Liquidity via alternative investment plans
-Maarten is member of EBRD
-New increase in red loans due to Coops
The “Economy” inset of newspaper “Haravgi” refers to the efforts of Cyprus Airways to sell the last time slot at Heathrow. As noted, while the parties express concerns for the course of the national carrier, the Board of Directors denies giving information on the sale of the time slots due to “confidentiality”. The issue will be discussed by the House Audit Committee next Tuesday.
“Haravgi” also reports that according to Cystat data, the number of the unemployed stood at 47.393 in May.
Other headlines:
-Growth in Europe, recession in Cyprus
-NPLS at €26.77bn
-Turn to collective funds for financing of projects
The “Economy” inset of newspaper “Alithia” refers to the Central Bank data on non-performing loans in March. According to them, the NPLs reached €26.8 billion with an increase of €212 million mostly stemming from the Coops. The loans to commercial banks in March reached €41.76% or €20.02 billion from 41.34% or €20.19 billion in February 2014. In the Coops, the loans to businesses reached €2.92 billion in March, 41.73% or €1.22 billion of which is not performed.
Elsewhere the newspaper reports that according to Eurostat data, the first quarter of the year in relation to the corresponding period last year recorded a recession of -4.1% in Cyprus, while recession in the fourth quarter was -5.0%.
Other headlines:
-Investigation for Greek bonds completed
-Looking for buyer in Uniastrum
-They see conflict of interest in EBRD
-Proposals to boost businesses
The “Economy” inset of newspaper “Phileleftheros” refers to the Central Bank data on the non-performing loans in March. According to them, in late March the non-performing loans increased to 50.7% from 47.8% a month ago, reaching €6.8 billion. In the commercial banks the problematic loans stood at 41.76% out of total €47.9 billion from 41.34% in February. In the Cooperatives, the non-performing loans were at 50.72% in March out of total €13.3 billion, while in February they were 47.77%.
Based on the CB directive, a loan is regarded as non-performing when is delayed beyond 90 days.
Elsewhere the newspaper reports that according to Land Registry data, the total increase in the deeds of sale for the first five months of the year reached 20%.
Other headlines:
-Unemployment records small decline but remains high
-Increase in depository rates in April
-Decline of ELA in the specific period a mistake
-House raffles for Tax Superintendent
The “Economy” inset of newspaper “Politis” refers to the Central Bank data on the non-performing loans in March. According to them, the banking sector proceeded with restructuring of loans of €7 billion by late March. The €6.31 billion concern the commercial banks and the 0.65% the Cooperatives. Overall, NPLs in March stood at €26.77 billion, increased by €212 million, due to an increase in the NPLs in the Cooperatives.
“Politis” also refers to the Central Bank data on interest rates in April. According to them, the interest rate concerning other loans to households recorded a decrease to 4.98% compared to 5.93% in the previous month. The interest rate for loans to households for house purchase stood at 4.66% compared to 4.53% in the previous month.
Other headlines:
-EBRD starts working amid reactions
-Unemployment in recession
-What are we doing in Russia? John Hourican
-Gains of 4.85% in the CSE
The newspaper “Simerini” refers to the decision that the Cyprus Securities and Exchange Commission is expected to announce for the purchase of Greek bonds on behalf of Bank of Cyprus and Laiki Bank. As noted, if the SEC finds that bonds are bought without informing investors or there was negligence on the part of the directors, then those who are responsible will be named.
The “Economy” inset of the newspaper refers to the turmoil from the dispute between PASYPI and the Board of Directors of CAIR for the sale of the third time slot at Heathrow. According to the report, the parties, with announcements or statements by their represnettaives, urged the competent authorities to act fast in order to solve the problem, while they requested a briefing in relation to the future of the national carrier.
Other headlines:
-D. Kalogirou: Liquidity via alternative investment plans
-Maarten is member of EBRD
-New increase in red loans due to Coops
The “Economy” inset of newspaper “Haravgi” refers to the efforts of Cyprus Airways to sell the last time slot at Heathrow. As noted, while the parties express concerns for the course of the national carrier, the Board of Directors denies giving information on the sale of the time slots due to “confidentiality”. The issue will be discussed by the House Audit Committee next Tuesday.
“Haravgi” also reports that according to Cystat data, the number of the unemployed stood at 47.393 in May.
Other headlines:
-Growth in Europe, recession in Cyprus
-NPLS at €26.77bn
-Turn to collective funds for financing of projects
The “Economy” inset of newspaper “Alithia” refers to the Central Bank data on non-performing loans in March. According to them, the NPLs reached €26.8 billion with an increase of €212 million mostly stemming from the Coops. The loans to commercial banks in March reached €41.76% or €20.02 billion from 41.34% or €20.19 billion in February 2014. In the Coops, the loans to businesses reached €2.92 billion in March, 41.73% or €1.22 billion of which is not performed.
Elsewhere the newspaper reports that according to Eurostat data, the first quarter of the year in relation to the corresponding period last year recorded a recession of -4.1% in Cyprus, while recession in the fourth quarter was -5.0%.
Other headlines:
-Investigation for Greek bonds completed
-Looking for buyer in Uniastrum
-They see conflict of interest in EBRD
-Proposals to boost businesses
Related Articles
