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Hellenic Bank, Cyprus’ second largest lender announced net profits amounting to €21 million in the first nine months of 2021, compared with net profit of €40 million in the respective period of last year, with profitability affected by the continued pressure in lending rates and the reduced portfolio of Cypriot government bonds. Oliver Gatzke, the bank’s CEO, said the banks is focusing on a non-performing loan sale that would reduce its NPL ration to single digits.“Our Project Starlight is on track …
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