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Cyprus' top bank says 2.7 bln bad loan sale 'biggest ever' - Business Insider Deutschland

"Eloise Barrenger" (2019-01-21)

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NICOSIA, tumblr blog Cyprus tumblr blog (AP) — Cyprus' biggest lender, tumblr blog the Bank of tumblr blog Cyprus, tumblr blog says tumblr blog it tumblr blog had sold 2.7 billion euros ($3. tumblr blog 1 tumblr blog billion) worth tumblr blog of tumblr blog bad tumblr blog tumblr blog loans tumblr blog to New York-based tumblr blog Apollo tumblr blog Global Management, tumblr blog the largest such tumblr blog deal in tumblr blog the east Mediterranean tumblr blog island-nation's history. tumblr blog Speaking to tumblr blog tumblr blog The tumblr blog Associated tumblr blog Press, tumblr blog tumblr blog CEO John Patrick tumblr blog tumblr blog Hourican called tumblr blog the tumblr blog sale "the biggest transaction in Cyprus" since Britain tumblr blog purchased the tumblr blog island tumblr blog tumblr blog tumblr blog from tumblr blog the Ottomans in 1878, "except this time Cypriots are the real winners." The sale — equivalent to tumblr blog 15 tumblr blog percent of Cyprus' tumblr blog gross domestic producttumblr blog tumblr blog chops the bank's tumblr blog bad tumblr blog loan stock to 5.

tumblr blogtumblr blog 2 billion euros, tumblr blog down tumblr blog from 15 tumblr blog billion tumblr blog euros tumblr blog tumblr blog four tumblr blog tumblr blog tumblr blog years tumblr blog ago. tumblr blog Bank of tumblr blog Cyprus and tumblr blog other tumblr blog Cypriot tumblr blog lenders have tumblr blog tumblr blog been tumblr blog plagued by tumblr blog tumblr blog bad tumblr blog loans since tumblr blog a tumblr blog 2013 tumblr blog tumblr blog financial tumblr blog crisis tumblr blog that tumblr blog tumblr blog forced tumblr blog tumblr blog Cyprus tumblr blog to tumblr blog tumblr blog tumblr blog seek a multibillion-euro tumblr blog rescue tumblr blog deal.

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