SSM Chair praises Cypriot banks’ capitalisation and NPL reduction

Cypriot banks are well-capitalised and have shown a remarkable reduction in non-performing loans (NPLs), stated Claudia Buch, the new Chair of the Single Supervisory Mechanism (SSM).

However, she urged caution as banks face “emerging risks” such as geopolitical crises, climate change, and cybersecurity, in addition to the risks from high interest rates.

In an interview with the Cyprus News Agency (CNA) during her visit to Cyprus for the SSM Board meeting, Buch praised the significant...