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Hourican urges business community to help in a speeder resolution of NPLs problem

March 29, 2018 at 9:36am
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Bank of Cyprus’ CEO John Patrick Hourican urged Wednesday the business community in Cyprus to help the legislative and political agenda to move towards a speeder resolution on the issue of non – performing loans, in order for the country to continue its economic success, in his closing remarks at the Βusiness Leaders Summit 2018 in Nicosia.

Pointing out that one of the still great issues in Cyprus was the tolerance on non- performers lending he said that out of 7 billion of NPLs, only a third had to do with vulnerable people, giving rise to an excessive protection of the whole. As he said “we need to move beyond that” and that “tackling that now leaves us in control of our destiny”.

(CNA)