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Loan restructurings in Cyprus reach a historic high – CBC
December 27, 2021
Loan restructurings in the Cypriot banking system edged close to €2 billion in the first ten months of 2021, marking the highest figure according to Central Bank of Cyprus (CBC) records which began at the end of 2014.
According to CBC data, restructured loans by the end of October rose to €1.98 billion as banks accelerated loan restructurings following the termination of the payment suspension at the end of 2020 enforced due to the pandemic. The Cypriot payment suspension was considered the broadest in the Euro area, affecting loans totalling €11.7 billion both in the banking system and the credit-acquiring companies.