Tagsrecapitalisation

CBC releases detailed PIMCO report on banks

By George Psyllides 20/04/13
THE Central Bank of Cyprus (CBC) yesterday released the detailed results of a due diligence of the banks that determined they will need around €8.9 billion in additional capital needs.The capital needs were the result of a comprehensive analysis of the value of credit portfolios and foreclosed assets, and of the earnings capacity of the banks to absorb losses over the next three years under an adverse scenario.According to this scenario, domestic banks will need some €8.2 billion while foreign lenders need €149 million.Cooperative banks need €589 million, the due diligence that was carried out by investment experts PIMCO found... 1 comment

Banks still waiting for recapitalisation figures

06/03/13
BANKS have not yet received the detailed figures concerning their individual recapitalisation needs, which were expected to be handed over on Monday, it emerged yesterday.The banks had expected the figures on Monday but the Central Bank told them they will be handed over on Tuesday instead.Yesterday however, they were told to wait until further notice, the Cyprus Mail has learned.Sources at one bank expressed their relief as that could mean the figures were not yet final and that efforts were still underway to adjust them downwards.Banks have expressed strong disagreement with the procedure used by the company that carried out the due diligence into their portfolios. They say that their needs were exaggerated... 2 comments
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