Cyprus News Agency: News in English, 16-10-14

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From: The Cyprus News Agency at <http://www.cyna.org.cy>

CONTENTS

[01] RCB Bank extends cooperation with EIB in supporting SMEs

[02] Non performing facilities drop by about €108m to €24,55bn

[01] RCB Bank extends cooperation with EIB in supporting SMEs

RCB Bank announced here today that it has extended its cooperation with the European Investment Bank (EIB) and the government of Cyprus to achieve viable growth for the Cyprus economy by supporting small and medium sized Cypriot enterprises.

According to a press release, further to the current cooperation between RCB and the EIB which regarded a 20 million Euros funding facility allocated for the financing of new investments of Cypriot SMEs at beneficial lending rates, RCB Bank Ltd will now be able to additionally channel 40 million Euros to the Cypriot economy.

As noted, these 40 million Euros translate to competitive lending solutions for new investments, characterized by a longer repayment period, beneficial lending rates and favorable terms to SMEs, which are the backbone of the Cypriot economy.

(CNA)

*The full text of the news item is available in the paid version of the CNA web service.

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[02] Non performing facilities drop by about €108m to €24,55bn

The downward trend in centralised non performing facilities of Banks continued in August 2016, according to figures published on Friday by the Central Bank of Cyprus.

In particular, non performing facilities decreased by about €108 million, reaching €24,55 billion from €24.66 billion in July this year.

Facilities decreased in August by € 2,13 billion from € 26.68 billion in the beginning of this year.

Facilities with over 90 days delay dropped in August 2016 to €18.28 billion compared to €18.36 billion in July 2016.

Since the beginning of the year, facilities with over 90 days delay have been reduced by € 2.72 billion.

Moreover, restructured facilities rose in August by about €1 million, reaching €13.701 million, of which €10.272 millions still included in non performing facilities.

Total facilities ...

(CNA)

*The full text of the news item is available in the paid version of the CNA web service.

*CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.

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