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The smaller Cypriot banks should follow the path set by larger ones in reducing their stock of non-performing loans, Constantinos Herodotou, Governor of the Central Bank of Cyprus, has said, stressing that Cypriot banks should not utilize their excessive liquidity to rush to give loans without scrutinizing the borrower’s repayment capacity. Speaking to a lunch hosted by the Nicosia rotary club, Herodotou said the Cypriot banking system has recorded “immense progress” reducing its stock of NPLs from their peak of €28 …
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