Banks need to step up their efforts to tackle NPS as conducive environment lasts, Central Bank Governor says

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Central Bank of Cyprus (CBC) Governor Constantinos Herodotou called on the Cypriot banks to step up their efforts to further reduce non-performing loans (NPLs) as the current conducive environment remains in place. Addressing a conference titled “Indebtedness and NPS, achievements and challenges” co-hosted by the CBC and the European Commission’s representation to Cyprus, Herodotou said Cypriot banks may have reduced their NPS by €19 billion since their peak in December 2014 but “there is still work to be done” as Cyprus’ …

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