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Bank of Cyprus, Cyprus’ largest lender posted a net loss of €171 million in 2020 amid the coronavirus pandemic, with the bank stressing that aim amid the pandemic was to further reduce the risks in its balance sheet than making a profit. Despite of the pandemic the bank concluded two sales of non-performing loans (projects Helix 2 A and B) totalling €1.4 billion which combined with the organic in-house NPL reduction led to a 16% NPL rate in end-2020 from 30% …
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