CO-OPs Reduce NPLs Stock Below €6 Billion

17:37 - 08 Ιουλίου 2016

GoldNews

The Cooperative Credit Institutions (Co-ops) have stepped up the pace of restructurings, reducing their non-performing loans below €6 billion six months before the target date.

Nicolas Hadjiyiannis, the Cooperative Central Bank`s Chief Executive Officer, has told the Cyprus News Agency in an interview that the Coop sector has reduced its non-performing exposures (EBA definition that keeps a restructured loan under probation for one year) to €7.25 billion.

“We are well within our targets for a loan restructuring over €1 billion in 2016 and we are very pleased with the huge progress achieved,” he said, adding that the Co-op sector has achieved restructurings totalling €1.4 billion or 13,000 accounts in the past 12 months.

CO-OPs Reduce NPLs Stock Below €6 Billion

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