New NPL Sales Coming, German Delegation to Visit Cyprus

A credit institution in Cyprus is preparing for a new round of Non-Performing Loan (NPL) sales. A senior banking official stated that this decision is due to the existence of borrowers who have not serviced their loans for a long time, with no prospect of improvement. The bank has repeatedly warned borrowers, but supervisory obligations leave it with no other options. The sale of NPLs is considered the only viable option to reduce risk and free up capital. At the same time, a delegation of German parliamentarians is expected to visit Cyprus to discuss the priorities of the Cypriot presidency. The meetings will include contacts with various bodies, such as the House of Representatives, the Ministry of Foreign Affairs, and the Ministry of Finance, as well as representatives of the economic sector and civil society. The upcoming NPL sale and the visit of the German delegation are two important events expected to affect the economic and political situation in Cyprus in the near future.