Announcements by local banks regarding new loans and efforts to achieve restructurings of NPLs.

Bank of Cyprus has announced today that it is both willing and able to lend to viable companies and the reduction of

the time taken to process new loan applications, emphasizing the need for further investment and development in sectors of the economy which have good prospects of development.

The chairwoman of Hellenic Bank announced that the bank has been able to reduce the rate of increase of NPLs and is making great efforts in order to achieve viable restructurings of loans.

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The analysis provided in the document is not intended to be comprehensive of all legal developments.

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