Moody's has lowered the ratings of two major banks in Cyprus | |
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Treyfish (OP) User ID: 14756837 United States 06/12/2012 10:28 PM Report Abusive Post Report Copyright Violation | June 13, 2012 - 8:43AM ...Cyprus Popular Bank has 42 per cent of its net loans to Greek borrowers, Bank of Cyprus 34 per cent of gross loans, and Hellenic Bank 17 per cent of gross loans. "As such, their capital positions remain susceptible to the direct and indirect consequences of a Greek exit," said Moody's. Moody's said it views the chance of Greece's pullout from the eurozone "as substantial" and that "the probability of such an outcome may increase further following the Greek parliamentary elections on 17 June." Cyprus conceded last week that it may need a European Union bailout to save its banking system.... Read more: [link to www.smh.com.au] |
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