22/07/2013 15:55
President of the Democratic Rally talked about two goals in relation to Bank of Cyprus, at a press conference held today.
The first and biggest goal, he said, is its exit from the resolution regime.
The second goal, he noted, is the restructuring of its loan portfolio and the rest of the banking sector in order to provide the necessary extensions to loans (for cases where there is the necessary collateral) to reduce the installments paid by businesses and households.
He also stressed the need to give special emphasis on reducing lending rates to ease cost to society.
"The important decisions for the middle and long term planning of the Bank are decisions that must be taken by the new owners of the bank rather than a transitional Board and a transition higher management team, who have an expiration date," Mr. Neophytou added.
Finally, he noted that if the repayment period for business and housing loans in Cyprus were at the levels of rest of the eurozone and if the lending rates were at the level of the eurozone average then Cyprus would not encounter problems with non-performing loans and these would probably be at the levels of the European average despite the deep recession.
The first and biggest goal, he said, is its exit from the resolution regime.
The second goal, he noted, is the restructuring of its loan portfolio and the rest of the banking sector in order to provide the necessary extensions to loans (for cases where there is the necessary collateral) to reduce the installments paid by businesses and households.
He also stressed the need to give special emphasis on reducing lending rates to ease cost to society.
"The important decisions for the middle and long term planning of the Bank are decisions that must be taken by the new owners of the bank rather than a transitional Board and a transition higher management team, who have an expiration date," Mr. Neophytou added.
Finally, he noted that if the repayment period for business and housing loans in Cyprus were at the levels of rest of the eurozone and if the lending rates were at the level of the eurozone average then Cyprus would not encounter problems with non-performing loans and these would probably be at the levels of the European average despite the deep recession.
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