NPLs in Cyprus among high­est

Financial Mirror (Cyprus) - - FRONT PAGE -

Co­op­er­a­tive Cen­tral Bank Chair­man Ni­co­las Had­jiyian­nis said that Cyprus topped the world list of sys­tems with high non-per­form­ing loans, adding that the Co­op­er­a­tive sec­tor is do­ing its best to re­solve the prob­lem.

He said, in his ad­dress to the in­ter­na­tional Co-ops con­fer­ence in Li­mas­sol that the Cyprus Co­op­er­a­tive sec­tor has EUR 3.5 bln in liq­uid­ity, em­ploys 2,700 peo­ple, has the largest net­work of 256 branches, its cap­i­tal ad­e­quacy ra­tio is around 13.5% and its cap­i­tal amounts to EUR 1.3 bln.

He added, how­ever, that the Co-op­er­a­tive sec­tor “has a huge per­cent­age of non-per­form­ing loans, a per­cent­age which for Cyprus it­self is a bad global pre-em­i­nence.”

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