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Cypriot Investment Scheme
Repossession Property Yield Properties

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  • 1 December 2020 Investment of 90 million euros in Pyla

    Investment of €90 million in Pyla read more

  • 25 November 2020 Newzoe Developers Ltd have issued title deeds for their Irini Gardens houses

    Newzoe Developers Ltd have issued title deeds for their Irini Gardens houses read more

  • 17 November 2020 Historic day The development of Larnaca Harbour and Marina has been approved

    Historic day: The development of Larnaca Harbour and Marina has been approved read more

  • 13 July 2020 Μελέτη για τις περιοχές των Βρετανικών Βάσεων

    Ανακοινώθηκε η περιβαλλοντική μελέτη για... read more

  • 9 July 2020 Cabinet extends town planning incentives

    THE CABINET on Wednesday decided to extend existing town planning incentives... read more

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 1 December 2020 Investment of 90 million euros in Pyla

    Investment of €90 million in Pyla read more

  • 25 November 2020 Newzoe Developers Ltd have issued title deeds for their Irini Gardens houses

    Newzoe Developers Ltd have issued title deeds for their Irini Gardens houses read more

  • 17 November 2020 Historic day The development of Larnaca Harbour and Marina has been approved

    Historic day: The development of Larnaca Harbour and Marina has been approved read more

  • 13 July 2020 Μελέτη για τις περιοχές των Βρετανικών Βάσεων

    Ανακοινώθηκε η περιβαλλοντική μελέτη για... read more

  • 9 July 2020 Cabinet extends town planning incentives

    THE CABINET on Wednesday decided to extend existing town planning incentives... read more

Moody s Improves financial structure of the Cypriot banks

   

Nicosia: The increase in deposits in the Cypriot banking system improves the financial structure of the Cypriot banks, considers the Moody`s rating agency in response to the increase in deposits in the banking system in 2016. 

The financial statement (Moody`s Credit Outlook) issued today , the agency notes that the annual increase in deposits in 2016 was the first, after four years. 

"The increase in deposits was driven more by stable domestic deposits and is considered positive because it improves the financial banking structures", he says, adding that the rise in deposits demonstrates the increased households' ability to service its high debt levels, a significant proportion of which remains problematic. 

According to Moody`s, the increase of € 3 billion to the total deposits of € 49 billion is the highest since 2013, demonstrating the improved financing conditions in a system where the confidence of depositors remains fragile after losses (due to clipping) during the banking crisis of 2013. 

"this improvement reflects the strong economic growth, which we estimate will reach 2.7% in 2017, the lowest unemployment and the integration of the economic adjustment program in March 2016, "the firm says. 

According to Moody`s, these factors have partly led to restore confidence of depositors, leading to the gradual return of "money from layers", while auxiliary acted and high income from tourism. 

Meanwhile, according to the firm, increasing contributor Cypriots and other residents of the euro area, particularly companies from Greece. 

Prolonged recovery process of bank balance sheets 

The firm believes that the improved financial situation of households would strengthen their ability to serve high debt levels. 

"However, the banks' balance sheets recovery process will be a long process because of the long healing periods on restructured loans before being classified as performing, and the considerable amount of problem loans, which have not yet structured," he adds. 

Additionally, o Moody`s notes that the process of improvement of bank balance sheets will be prolonged due to the limited recovery through the low volume of sales of assets in the real estate market and the difficulty of changing the culture of Cypriot households, as demonstrated by high rates of restructured loans in arrears. 

Finally, the agency warned that a weakening of banks' solvency level would mark deposit outflows While noting such a possibility is not to forecast. 

http://www.philenews.com/el-gr/oikonomia-kypros/146/350401/moodys-veltionetai-i-chrimatodotiki-domi-ton-kypriakon-trapezon