19.02.2018

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" LOAN " ( 2 )

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NPLs and European banks – a way forward

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By Theodoros Alepis It has been widely recognised that the high level of nonperforming loans (NPLs) in certain European countries is an obstacle to economic growth and a burden on their banking sectors. A loan is classified as non-performing if repayment is more than 90 days in arrears or if the loan is assessed as unlikely to be repaid by the borrower. In particular, high levels of NPLs: Require high levels of provisions from banks to cover for expected losses. High provisioning consumes ba

Cyprus Mail

Two men remanded for fraud

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Two men were remanded in custody for eight days in Limassol on Tuesday in connection with obtaining over €2 million under false pretenses from the owner of a construction company who had been promised favourable loan restructurings and other arrangements relating to VAT debt and property acquisitions. The pair, 44 and 64, are being investigated for obtaining money under false pretenses, forgery, and money laundering, police told the court. A third individual believed to be involved in the ca

Cyprus Mail

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