Banks exceed certain restructuring targets, fall short of others

The Central Bank of Cyprus has found that banks operating in Cyprus have over performed on a number of restructuring targets it has set them during the 2nd quarter of 2016 but under performed in others, according to a press release issued on Wednesday.

“The overall picture is that, for the total of the banks that are subject to these restructuring targets, there is an over-performance of the target for the first indicator (proposed sustainable solutions) and a smaller over-performance for the second indicator (concluded sustainable solutions) pointing to the huge effort that is being made for the restructuring of loans presenting arrears over 90 days,” the Central Bank press release says.

Specifically, it adds, “the target for the first indicator was 14.

Source: Cyprus News Agency.