NICOSIA Sam Martin Lions Jersey , Aug. 29 (Xinhua) -- Bank of Cyprus (BOC), the bailed-out island's primary lender, posted a net loss of 554 million euros (666 million U.S. dollars) on Tuesday for the first six months of the year, on account of an increase in provisions for non-performing loans.
BOC said in a statement posted on the Cyprus Stock Exchange website that this compared with a profit of 54 million euros during the same period of 2016.
It announced that it had increased its provisions for loan impairments to 727 million euros -- 614 million euros in the second quarter and 113 million euros in the first quarter -- compared with a provision totaling 180 million euros in the respective period of 2016.
BOC, like all other Cypriot banks Glover Quin Lions Jersey , was hit by a wave of non-performing loans after it was resolved in March 2013, as part of Cyprus's 10-billion-euro bail-out by the Eurogroup and the International Monetary Fund (IMF).
The lender was forced to seize 47.5 percent of uninsured deposits over 100,000 euros to recapitalize, thus introducing the term "bail-in" to monetary terminology.
The bank's traditional owners, mostly local institutions and individuals Matt Prater Lions Jersey , were succeeded by its creditors, who were mostly Russian and Ukrainian oligarchs.
BOC said that bad loans dropped at the end of June to 9.8 billion euros, representing 50 percent of its total loan portfolio.
The bank's Irish chief executive, John Hourican, said in a statement that despite the posted loss Nevin Lawson Lions Jersey , the lender was making "steady progress in its journey back to full strength."
He vowed to crack down on what he called deliberate defaulters in repaying their loans, by resorting to "a potential sell-down of delinquent loans."
He said the board made a deliberate decision to allocate an increase provision for bad loans so as to further accelerate risk reduction.
"We expect to continue to utilize the operating profit of the bank in the remainder of 2017 for further balance sheet de-risking...to be in a position to present a more normal credit cycle charge," he added.
He said the growth of the Cypriot economy by 3.5 percent in the second quarter this year is expected to help the bank's operations. (1 euro = 1.20 U.S. dollars)
Video: "Major-Country Diplomacy" episode one
T3A terminal of Jiangbei Airport put into operation in Chongqing
PV project planned to supply power to Yiwu for following 25 years
Three dams begin to release water due to Hurricane Harvey in Houston
China's Discovery ROV collects samples in western Pacific Ocean
World Robot Conference attracts visitors in Beijing
At least 2 died, 8 injured in knife attack in Turku, Finland
13 killed Tavon Wilson Lions Jersey , over 100 others injured in Barcelona attack: official
BEIJING, Aug. 30 (Xinhua) -- Chinese authorities are solicitingpublic opinion on a provisional regulation that aims to furtherregulate activities involving private investment funds.
The regulation focuses on risk prevention and protection ofinvestor rights during fund raising and investment operations, theLegal Affairs Office of the State Council, China's cabinet, saidWednesday in a note regarding the soliciting of opinions.
It is necessary to issue such a regulation given theirregularities arising in the fast-developing industry in recentyears Quandre Diggs Lions Jersey , according to the office.
The regulation states that fund managers and custodians shouldjoin the industry association to submit information on fundoperations and that the association should establish a mechanism tohandle investors' complaints.
The public can provide feedback on the provisional regulation byvisiting the office's website before Sept. 30, 2017. Enditem
CARACAS, Sept. 15 (Xinhua) -- Venezuela's government and right-wing opposition groups have returned to the negotiating table, President Nicolas Maduro said on Friday.
The "negotiating table" was installed in the Dominican Republic, where delegates from both sides met on Sept. 13-14 in a bid to overcome the political crisis that has been plaguing the country T.J. Jones Lions Jersey , he said in a televised broadcast.
Maduro thanked his Dominican counterpart Danilo Medina, former Spanish Prime Minister Jose Luis Rodriguez Zapatero and others for helping to restore the talks with the opposition coalition, known by its Spanish acronym MUD, which were terminated in December.
Thanks to their help, "we are close to reaching an agreement on political coexistence between the Venezuelan government and the Venezuelan opposition Nick Bellore Lions Jersey ," he said.
The two sides are at an advanced stage in negotiations, said Maduro, thanking opposition leaders "for having sat down to work and to dialogue" with his administration.
The government and the opposition have been locked in a bitter power struggle since Maduro defeated the MUD's presidential candidate by a narrow margin in 2013. Violent anti-government demonstrations have rocked the country.
Dancers perform at BRICS Night of Ballet in SE China's Xiamen
Exhibition held during National Mass Innovation Entrepreneurship Week
Israeli soldiers clash with Palestinian protesters in Nablus
Trump visits Joint Base Andrews in Maryland
Special snacks displayed during 14th China-ASEAN Expo
Scenery of paddy fields in Baicheng, NE China's Jilin
China Focus: World's oldest panda dies aged 37
Scenery of terraced fields at Wuyishan in SE China's Fujian
"
BEIJING, Jan. 31 (Xinhua) -- The EU ambassador to China Miles Killebrew Lions Jersey , Hans Dietmar Schweisgut said Wednesday that he was staying optimistic on the future of China's reform and opening up, even if economic shift was hard.
Schweisgut expressed his opinion in a forum hosted by the Global Times celebrating the 40th anniversary of China's reform and opening-up in Beijing.
Schweisgut said China's economy was now shifting to beco. Cheap Jerseys
China Cheap Wholesale
Jerseys Cheap Replica
Jerseys Cheap Jerseys China
Wholesale Cheap NBA
Jerseys Cheap NBA Basketball
Jerseys Cheap MLB Baseball
Jerseys Wholesale Jerseys
China Wholesale College
Jerseys Wholesale Baseball
Jerseys
