Credit

NPLs steady at €2 billion in Cyprus

Nonperforming loans in the Cypriot banking system remained essentially unchanged at 2 billion euros in October 2023, marking a marginal reduction of just €2 million, in an environment of rising interest rates.

According to data released by the Central Bank of Cyprus on Tuesday, bad loans in October amounted to €2.015 billion from €2.017 billion the month before.

Surge in Fast Credit Usage: 23% of Bulgarians Seek Quick Loans in 2023

The percentage of Bulgarians resorting to fast credit services has surged to 23% in 2023 from 15% in the previous year, as per findings from a nationwide study conducted by the Kantar consulting firm. The report, disclosed by non-banking lender Easy Credit, highlights the growing trend of utilizing these services.

Credit expansion of 4% is expected for this and next year

The Greek banking sector will see this and next year a credit expansion of 4% per annum, per Eurobank Equities, ensuring resilience in interest income and profitability for Greek banks.

This is ahead of the imminent reduction of interest rates by the ECB, expected to start from the second quarter of this year.

Three goals in public debt management

Reducing the ratio of debt-to-gross domestic product at the fastest rate in Europe, achieving higher positions in the rating agencies' scales and further reducing the cost of servicing the country's borrowing, are the three main objectives set by the financial staff for the crucial issue of managing the Greek debt.

New burden on the debt from 2033

In nine years, when Greece enters 2033, it will be faced with a problem going back to its bailout past: The public debt will suddenly be burdened with an extra 25 billion euros, or 8% of the then GDP, as the interest on loans from 2013, which has been frozen for almost two decades as part of debt relief arrangements with its European lenders, will be added to it.

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